Milestone Asset Management LLC Reduces Position in IonQ, Inc. $IONQ

Milestone Asset Management LLC decreased its holdings in IonQ, Inc. (NYSE:IONQ) by 45.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,926 shares of the company’s stock after selling 19,407 shares during the quarter. Milestone Asset Management LLC’s holdings in IonQ were worth $985,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in IONQ. Y Intercept Hong Kong Ltd acquired a new position in shares of IonQ in the 2nd quarter valued at about $6,104,000. Union Bancaire Privee UBP SA lifted its holdings in shares of IonQ by 8,150.0% in the 2nd quarter. Union Bancaire Privee UBP SA now owns 82,500 shares of the company’s stock worth $3,545,000 after purchasing an additional 81,500 shares during the last quarter. Cookson Peirce & Co. Inc. grew its stake in IonQ by 21.5% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 102,466 shares of the company’s stock worth $4,403,000 after buying an additional 18,124 shares during the last quarter. McGuire Investment Group LLC boosted its holdings in shares of IonQ by 136.8% during the second quarter. McGuire Investment Group LLC now owns 165,716 shares of the company’s stock valued at $7,121,000 after acquiring an additional 95,723 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of IonQ by 119.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,330 shares of the company’s stock worth $1,346,000 after acquiring an additional 16,522 shares during the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on IONQ. Benchmark upped their target price on shares of IonQ from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. DA Davidson lowered IonQ from a “buy” rating to a “neutral” rating and set a $35.00 price target for the company. in a research report on Thursday, August 7th. Wolfe Research assumed coverage on shares of IonQ in a research note on Wednesday, July 30th. They set a “peer perform” rating on the stock. Zacks Research downgraded shares of IonQ from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Finally, B. Riley boosted their price target on shares of IonQ from $75.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.33.

Insider Buying and Selling

In other news, insider Robert T. Cardillo sold 8,773 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $50.52, for a total transaction of $443,211.96. Following the completion of the sale, the insider owned 37,436 shares in the company, valued at approximately $1,891,266.72. This represents a 18.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Masi Niccolo De sold 16,120 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $44.40, for a total transaction of $715,728.00. Following the completion of the sale, the chief executive officer owned 1,181,186 shares of the company’s stock, valued at $52,444,658.40. The trade was a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 131,398 shares of company stock valued at $5,665,690. 5.20% of the stock is owned by company insiders.

IonQ Stock Performance

NYSE IONQ opened at $58.32 on Tuesday. The firm’s 50 day moving average price is $60.47 and its two-hundred day moving average price is $46.31. The stock has a market cap of $20.26 billion, a price-to-earnings ratio of -29.02 and a beta of 2.60. IonQ, Inc. has a twelve month low of $14.15 and a twelve month high of $84.64.

IonQ (NYSE:IONQ) last announced its quarterly earnings data 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 business had revenue of $20.69 million during the quarter, compared to analysts’ expectations of $17.23 million. IonQ had a negative return on equity of 67.11% and a negative net margin of 885.21%.The firm’s revenue was up 81.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.18) earnings per share. On average, research analysts forecast that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

IonQ Company 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.