Wealth Management Partners LLC Makes New $465,000 Investment in IonQ, Inc. $IONQ

Key Points

• Wealth Management Partners LLC acquired a new stake in IonQ, Inc., purchasing 10,292 shares valued at approximately $465,000 in the second quarter.
• IonQ's CEO, Masi Niccolo De, and CRO, Rima Alameddine, sold significant shares on September 11th, with Niccolo's shares valued at $715,728 and Alameddine's at $886,934.
• The company's stock is currently priced at $70.53, with its market capitalization at $20.94 billion, despite recent financial results showing a significant loss per share of ($0.70).

Wealth Management Partners LLC acquired a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 10,292 shares of the company's stock, valued at approximately $465,000.

A number of other hedge funds have also recently bought and sold shares of IONQ. Nuveen Asset Management LLC boosted its position in shares of IonQ by 14.7% in the 4th quarter. Nuveen Asset Management LLC now owns 555,192 shares of the company's stock worth $23,190,000 after purchasing an additional 71,168 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in shares of IonQ in the 4th quarter valued at about $283,000. Tidal Investments LLC acquired a new stake in shares of IonQ in the 4th quarter valued at about $883,000. Voloridge Investment Management LLC acquired a new stake in shares of IonQ in the 4th quarter valued at about $7,081,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of IonQ by 29.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 362,603 shares of the company's stock valued at $15,146,000 after acquiring an additional 82,499 shares during the last quarter. 41.42% of the stock is currently owned by institutional investors.

IonQ Stock Performance

Shares of IONQ stock traded up $2.69 during trading on Tuesday, hitting $74.63. The company had a trading volume of 33,012,382 shares, compared to its average volume of 22,986,959. The firm has a market capitalization of $22.15 billion, a P/E ratio of -37.09 and a beta of 2.54. The stock's 50-day moving average price is $44.92 and its 200 day moving average price is $36.96. IonQ, Inc. has a one year low of $7.50 and a one year high of $76.13.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.57). The company had revenue of $20.69 million during the quarter, compared to the consensus estimate of $17.23 million. IonQ had a negative net margin of 885.21% and a negative return on equity of 67.11%. The company's quarterly revenue was up 81.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.18) earnings per share. On average, research analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Masi Niccolo De sold 16,120 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $44.40, for a total value of $715,728.00. Following the completion of the sale, the chief executive officer directly owned 1,181,186 shares in the company, valued at approximately $52,444,658.40. The trade was a 1.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul T. Dacier sold 4,175 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total value of $185,370.00. Following the completion of the sale, the insider owned 114,454 shares of the company's stock, valued at approximately $5,081,757.60. This trade represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 351,047 shares of company stock valued at $15,645,611 in the last quarter. Company insiders own 5.20% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on IONQ shares. Benchmark lifted their target price on IonQ from $55.00 to $75.00 and gave the company a "buy" rating in a research report on Tuesday, September 16th. Sanford C. Bernstein started coverage on IonQ in a research report on Wednesday, July 30th. They issued a "market perform" rating on the stock. Cantor Fitzgerald lifted their target price on IonQ from $45.00 to $60.00 and gave the company an "overweight" rating in a research report on Monday, September 15th. B. Riley lifted their target price on IonQ from $75.00 to $100.00 and gave the company a "buy" rating in a research report on Monday. Finally, Needham & Company LLC lifted their target price on IonQ from $60.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, IonQ presently has an average rating of "Moderate Buy" and an average target price of $58.33.

IonQ Profile

IonQ, Inc engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft's Azure Quantum, and Google's Cloud Marketplace, as well as through its cloud service.