Stifel Financial Corp Acquires Shares of 9,038 IonQ, Inc. (NYSE:IONQ)

Stifel Financial Corp bought a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,038 shares of the company's stock, valued at approximately $378,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new position in IonQ during the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC lifted its position in shares of IonQ by 421.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock valued at $27,000 after acquiring an additional 501 shares during the period. TD Waterhouse Canada Inc. bought a new stake in shares of IonQ during the 4th quarter valued at $33,000. Golden State Wealth Management LLC bought a new stake in shares of IonQ during the 4th quarter worth $34,000. Finally, City State Bank bought a new position in IonQ in the fourth quarter valued at about $36,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

IonQ Trading Up 0.9%

NYSE IONQ opened at $33.19 on Wednesday. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The stock has a 50-day moving average of $25.37 and a 200-day moving average of $30.81. The firm has a market cap of $7.40 billion, a PE ratio of -40.97 and a beta of 2.46.

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

Insider Buying and Selling

In other IonQ news, CRO Rima Alameddine sold 1,407 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $21.20, for a total transaction of $29,828.40. Following the sale, the executive now directly owns 592,615 shares of the company's stock, valued at $12,563,438. This trade represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William F. Scannell bought 93,066 shares of IonQ stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $21.81 per share, for a total transaction of $2,029,769.46. Following the completion of the acquisition, the director now directly owns 135,047 shares of the company's stock, valued at approximately $2,945,375.07. The trade was a 221.69% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 2,033,166 shares of company stock worth $38,059,593 in the last 90 days. Insiders own 11.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IONQ shares. Morgan Stanley increased their price target on IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Benchmark dropped their price target on IonQ from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. DA Davidson cut their price target on IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Needham & Company LLC reduced their target price on IonQ from $54.00 to $50.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Two equities research 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.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $38.33.

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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