Wealthcare Advisory Partners LLC Invests $302,000 in IonQ, Inc. $IONQ

Key Points

• Wealthcare Advisory Partners LLC has invested approximately $302,000 in IonQ, purchasing 7,031 shares during the second quarter.
• Insiders have sold a significant amount of IonQ shares recently, including Paul T. Dacier and Rima Alameddine, reducing their holdings by 3.52% and 3.61% respectively.
• IonQ's stock price was reported at $70.88, with a market capitalization of $21.04 billion and a significant year-over-year revenue increase of 81.6%.

Wealthcare Advisory Partners LLC purchased a new position in IonQ, Inc. (NYSE:IONQ - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 7,031 shares of the company's stock, valued at approximately $302,000.

Other hedge funds have also made changes to their positions in the company. ORG Partners LLC lifted its holdings in shares of IonQ by 348.0% in the 1st quarter. ORG Partners LLC now owns 1,120 shares of the company's stock worth $26,000 after purchasing an additional 870 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of IonQ by 780.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company's stock worth $34,000 after buying an additional 1,295 shares in the last quarter. Close Asset Management Ltd bought a new stake in shares of IonQ in the 1st quarter worth $35,000. SVB Wealth LLC bought a new stake in shares of IonQ in the 1st quarter worth $35,000. Finally, Golden State Wealth Management LLC grew its holdings in shares of IonQ by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,616 shares of the company's stock worth $36,000 after acquiring an additional 808 shares during the last quarter. Institutional investors own 41.42% of the company's stock.

Insider Buying and Selling

In other news, insider Paul T. Dacier sold 4,175 shares of IonQ stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $44.40, for a total value of $185,370.00. Following the completion of the sale, the insider directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Rima Alameddine sold 19,976 shares of IonQ stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total value of $886,934.40. Following the completion of the sale, the executive directly owned 532,616 shares of the company's stock, valued at $23,648,150.40. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 178,876 shares of company stock worth $7,930,390. 5.20% of the stock is currently owned by company insiders.

IonQ Price Performance

IONQ stock opened at $70.88 on Friday. The business has a fifty day moving average price of $53.00 and a 200 day moving average price of $41.47. IonQ, Inc. has a fifty-two week low of $9.62 and a fifty-two week high of $82.97. The stock has a market capitalization of $21.04 billion, a price-to-earnings ratio of -35.26 and a beta of 2.60.

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wolfe Research assumed coverage on IonQ in a report on Wednesday, July 30th. They set a "peer perform" rating on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of IonQ in a research report on Wednesday. Zacks Research cut IonQ from a "hold" rating to a "strong sell" rating in a research report on Monday, October 6th. DA Davidson cut IonQ from a "buy" rating to a "neutral" rating and set a $35.00 price objective for the company. in a research report on Thursday, August 7th. Finally, Benchmark boosted their price target on IonQ from $55.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, September 16th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target 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.

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