Verity Asset Management Inc. Sells 2,197 Shares of IonQ, Inc. $IONQ

Verity Asset Management Inc. lessened its stake in shares of IonQ, Inc. (NYSE:IONQ) by 20.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,404 shares of the company’s stock after selling 2,197 shares during the period. Verity Asset Management Inc.’s holdings in IonQ were worth $361,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in IONQ. Y Intercept Hong Kong Ltd bought a new stake in IonQ in the second quarter worth about $6,104,000. Union Bancaire Privee UBP SA lifted its stake in IonQ by 8,150.0% in the second 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. lifted its stake in IonQ by 21.5% in the second quarter. Cookson Peirce & Co. Inc. now owns 102,466 shares of the company’s stock worth $4,403,000 after purchasing an additional 18,124 shares during the last quarter. McGuire Investment Group LLC lifted its stake in IonQ by 136.8% in the second quarter. McGuire Investment Group LLC now owns 165,716 shares of the company’s stock worth $7,121,000 after purchasing an additional 95,723 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in IonQ by 119.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 30,330 shares of the company’s stock worth $1,346,000 after purchasing an additional 16,522 shares during the last quarter. Institutional investors own 41.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IONQ. Cantor Fitzgerald raised their price objective on shares of IonQ from $45.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, September 15th. Zacks Research downgraded shares of IonQ from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Needham & Company LLC raised their price objective on shares of IonQ from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Rosenblatt Securities reissued a “buy” rating and issued a $70.00 price objective on shares of IonQ in a research note on Monday, September 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IonQ in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $58.33.

Insider Buying and Selling

In related news, CFO Thomas G. Kramer sold 64,578 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $41.82, for a total value of $2,700,651.96. Following the completion of the transaction, the chief financial officer owned 473,302 shares of the company’s stock, valued at $19,793,489.64. The trade was a 12.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul T. Dacier sold 4,175 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 transaction of $185,370.00. Following the completion of the transaction, the insider directly owned 114,454 shares of the company’s stock, valued at $5,081,757.60. This trade represents a 3.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 131,398 shares of company stock valued at $5,665,690 over the last ninety days. Company insiders own 5.20% of the company’s stock.

IonQ Stock Performance

IonQ stock opened at $58.32 on Tuesday. The company has a 50 day moving average price of $60.47 and a 200-day moving average price of $46.31. IonQ, Inc. has a fifty-two week low of $14.15 and a fifty-two week high of $84.64. The company has a market capitalization of $20.26 billion, a PE ratio of -29.02 and a beta of 2.60.

IonQ (NYSE:IONQ) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.70) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $20.69 million for the quarter, compared to the consensus estimate of $17.23 million. During the same period in the prior year, the firm posted ($0.18) EPS. The business’s revenue was up 81.6% on a year-over-year basis. On average, analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current 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.