Commonwealth Financial Services LLC Buys Shares of 4,676 IonQ, Inc. $IONQ

Commonwealth Financial Services LLC bought a new stake in IonQ, Inc. (NYSE:IONQ) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,676 shares of the company’s stock, valued at approximately $201,000.

Other hedge funds have also recently made changes to their positions in the company. Ameritas Advisory Services LLC bought a new stake in shares of IonQ in the second quarter valued at $46,000. ORG Partners LLC raised its stake in shares of IonQ by 348.0% in the first quarter. ORG Partners LLC now owns 1,120 shares of the company’s stock valued at $26,000 after buying an additional 870 shares during the period. Farther Finance Advisors LLC raised its stake in shares of IonQ by 780.1% in the first quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company’s stock valued at $34,000 after buying an additional 1,295 shares during the period. Close Asset Management Ltd bought a new stake in shares of IonQ during the 1st quarter valued at $35,000. Finally, SVB Wealth LLC bought a new stake in shares of IonQ during the 1st quarter valued at $35,000. 41.42% of the stock is currently owned by institutional investors.

Insider Buying and Selling at IonQ

In related news, CFO Thomas G. Kramer sold 64,578 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $41.82, for a total transaction of $2,700,651.96. Following the completion of the transaction, the chief financial officer directly owned 473,302 shares in the company, valued at $19,793,489.64. The trade was a 12.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Masi Niccolo De sold 16,120 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $44.40, for a total value of $715,728.00. Following the transaction, the chief executive officer owned 1,181,186 shares of the company’s stock, valued at approximately $52,444,658.40. The trade was a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 178,876 shares of company stock valued at $7,930,390 over the last 90 days. Insiders own 5.20% of the company’s stock.

IonQ Stock Down 8.5%

IonQ stock opened at $70.88 on Monday. IonQ, Inc. has a 52 week low of $9.62 and a 52 week high of $82.97. The business has a 50-day simple moving average of $53.00 and a 200 day simple moving average of $41.71. The stock has a market cap of $21.04 billion, a price-to-earnings ratio of -35.26 and a beta of 2.60.

IonQ (NYSE:IONQ) last posted its earnings results on Wednesday, August 6th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.57). IonQ had a negative return on equity of 67.11% and a negative net margin of 885.21%.The business had revenue of $20.69 million for the quarter, compared to analysts’ expectations of $17.23 million. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. IonQ’s quarterly revenue was up 81.6% compared to the same quarter last year. On average, research analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Oppenheimer assumed coverage on IonQ in a research note on Wednesday, July 30th. They set an “outperform” rating on the stock. Needham & Company LLC boosted their price objective on IonQ from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of IonQ in a research note on Wednesday, October 8th. Wolfe Research assumed coverage on IonQ in a research note on Wednesday, July 30th. They set a “peer perform” rating on the stock. Finally, DA Davidson lowered IonQ from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research note on Thursday, August 7th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $58.33.

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.