Y Intercept Hong Kong Ltd Invests $6.10 Million in IonQ, Inc. $IONQ

Y Intercept Hong Kong Ltd purchased a new position in shares of IonQ, Inc. (NYSE:IONQ) during the second quarter, Holdings Channel reports. The firm purchased 142,050 shares of the company’s stock, valued at approximately $6,104,000.

Other large investors have also added to or reduced their stakes in the company. Close Asset Management Ltd acquired a new stake in IonQ during the first quarter worth approximately $35,000. SVB Wealth LLC acquired a new stake in IonQ during the first quarter worth approximately $35,000. Golden State Wealth Management LLC grew its position in IonQ by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,616 shares of the company’s stock worth $36,000 after buying an additional 808 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in IonQ during the second quarter worth approximately $46,000. Finally, Private Trust Co. NA acquired a new stake in IonQ during the second quarter worth approximately $52,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Wall Street Analyst Weigh In

IONQ has been the topic of a number of analyst reports. Zacks Research downgraded IonQ from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Wolfe Research initiated coverage on IonQ in a research report on Wednesday, July 30th. They set a “peer perform” rating on the stock. Sanford C. Bernstein began coverage on IonQ in a research report on Wednesday, July 30th. They set a “market perform” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IonQ in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald raised their target price on IonQ from $45.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, September 15th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $58.33.

IonQ Stock Performance

Shares of IONQ stock opened at $62.77 on Tuesday. The stock’s fifty day moving average price is $58.27 and its two-hundred day moving average price is $44.96. The company has a market cap of $21.81 billion, a PE ratio of -31.23 and a beta of 2.60. IonQ, Inc. has a fifty-two week low of $14.15 and a fifty-two week high of $84.64.

IonQ (NYSE:IONQ) last released its quarterly earnings data 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 firm had revenue of $20.69 million for the quarter, compared to analyst estimates of $17.23 million. During the same period last year, the business earned ($0.18) EPS. The company’s revenue was up 81.6% compared to the same quarter last year. On average, equities analysts predict that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Insider Activity at IonQ

In related news, CEO Masi Niccolo De sold 16,120 shares of the firm’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 sale, the chief executive officer owned 1,181,186 shares of the company’s stock, valued at $52,444,658.40. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Paul T. Dacier sold 4,175 shares of the firm’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total value of $185,370.00. Following the sale, the insider directly owned 114,454 shares in the company, valued at approximately $5,081,757.60. This trade represents a 3.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 131,398 shares of company stock worth $5,665,690 over the last 90 days. 5.20% of the stock is currently owned by company insiders.

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.