CFO Capital Management LLC acquired a new position in shares of IonQ, Inc. (NYSE:IONQ – Free Report) during the 4th quarter, Holdings Channel reports. The firm acquired 23,723 shares of the company’s stock, valued at approximately $1,064,000.
Other institutional investors also recently made changes to their positions in the company. Lauer Wealth LLC grew its position in shares of IonQ by 5.3% during the fourth quarter. Lauer Wealth LLC now owns 5,107 shares of the company’s stock worth $229,000 after buying an additional 255 shares in the last quarter. Beaird Harris Wealth Management LLC raised its holdings in IonQ by 117.4% in the third quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock valued at $31,000 after acquiring an additional 270 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in IonQ by 50.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock valued at $36,000 after acquiring an additional 279 shares during the last quarter. Letson Investment Management Inc. boosted its stake in IonQ by 2.6% during the 4th quarter. Letson Investment Management Inc. now owns 12,619 shares of the company’s stock valued at $566,000 after acquiring an additional 319 shares during the last quarter. Finally, Ameriflex Group Inc. grew its holdings in IonQ by 485.7% during the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock worth $25,000 after acquiring an additional 340 shares in the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at IonQ
In related news, insider Robert T. Cardillo sold 3,773 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $49.90, for a total value of $188,272.70. Following the completion of the sale, the insider owned 139,967 shares of the company’s stock, valued at $6,984,353.30. This represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.55% of the company’s stock.
IonQ Trading Down 0.1%
IonQ (NYSE:IONQ – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The business had revenue of $64.67 million during the quarter, compared to the consensus estimate of $49.75 million. During the same period last year, the company earned ($0.14) earnings per share. The business’s quarterly revenue was up 754.7% compared to the same quarter last year. Sell-side analysts forecast that IonQ, Inc. will post -2.26 earnings per share for the current fiscal year.
Analyst Ratings Changes
IONQ has been the subject of several research analyst reports. Morgan Stanley set a $48.50 target price on shares of IonQ in a research report on Thursday, May 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price target on shares of IonQ in a report on Thursday, June 11th. Weiss Ratings raised IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Wall Street Zen upgraded IonQ from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, JPMorgan Chase & Co. raised their price objective on IonQ from $42.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $68.62.
Check Out Our Latest Research Report on IONQ
About IonQ
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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.
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