Mercer Global Advisors Inc. ADV Invests $474,000 in IonQ, Inc. (NYSE:IONQ)

Mercer Global Advisors Inc. ADV acquired a new stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,346 shares of the company's stock, valued at approximately $474,000.

Several other hedge funds have also recently made changes to their positions in IONQ. Northern Trust Corp boosted its stake in shares of IonQ by 12.6% in the fourth quarter. Northern Trust Corp now owns 1,934,625 shares of the company's stock worth $80,809,000 after acquiring an additional 216,752 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of IonQ by 6.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 112,531 shares of the company's stock valued at $4,700,000 after buying an additional 7,066 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in shares of IonQ in the fourth quarter valued at $886,000. Nebula Research & Development LLC acquired a new stake in IonQ in the fourth quarter valued at approximately $1,128,000. Finally, Kovitz Investment Group Partners LLC acquired a new position in shares of IonQ during the fourth quarter worth $407,000. 41.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IONQ. Benchmark lowered their target price on shares of IonQ from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Needham & Company LLC cut their price target on IonQ from $54.00 to $50.00 and set a "buy" rating for the company in a report on Thursday, May 8th. DA Davidson decreased their price target on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Morgan Stanley upped their price objective on IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $38.33.

Insiders Place Their Bets

In other news, Director William F. Scannell bought 93,066 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $21.81 per share, with a total value of $2,029,769.46. Following the completion of the acquisition, the director now owns 135,047 shares of the company's stock, valued at $2,945,375.07. This represents a 221.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Peter Hume Chapman sold 2,000,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total value of $37,440,000.00. Following the completion of the transaction, the insider now owns 414,363 shares of the company's stock, valued at $7,756,875.36. The trade was a 82.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,033,166 shares of company stock valued at $38,059,593 in the last quarter. 11.60% of the stock is currently owned by insiders.

IonQ Price Performance

Shares of IONQ traded up $1.61 on Friday, reaching $34.15. 10,358,004 shares of the stock traded hands, compared to its average volume of 22,263,863. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The stock's 50-day moving average price is $25.89 and its 200-day moving average price is $30.93. The firm has a market cap of $7.61 billion, a price-to-earnings ratio of -41.95 and a beta of 2.46.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.14. The company had revenue of $7.57 million during the quarter, compared to analysts' expectations of $7.51 million. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. IonQ's revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.19) EPS. As a group, equities research analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

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.