Cookson Peirce & Co. Inc. Has $5.69 Million Position in IonQ, Inc. $IONQ

Cookson Peirce & Co. Inc. increased its stake in IonQ, Inc. (NYSE:IONQ) by 7.7% in the 4th quarter, Holdings Channel reports. The firm owned 126,806 shares of the company’s stock after purchasing an additional 9,089 shares during the period. Cookson Peirce & Co. Inc.’s holdings in IonQ were worth $5,690,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Lauer Wealth LLC lifted its holdings in IonQ by 5.3% in the 4th quarter. Lauer Wealth LLC now owns 5,107 shares of the company’s stock worth $229,000 after purchasing an additional 255 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its holdings in IonQ by 117.4% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock worth $31,000 after purchasing an additional 270 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in IonQ by 50.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock worth $36,000 after purchasing an additional 279 shares during the last quarter. Letson Investment Management Inc. lifted its holdings in IonQ by 2.6% in the 4th quarter. Letson Investment Management Inc. now owns 12,619 shares of the company’s stock worth $566,000 after purchasing an additional 319 shares during the last quarter. Finally, Ameriflex Group Inc. lifted its holdings in IonQ by 485.7% in the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock worth $25,000 after purchasing an additional 340 shares during the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

IonQ Stock Down 13.2%

Shares of IONQ stock opened at $56.99 on Friday. IonQ, Inc. has a 12 month low of $25.89 and a 12 month high of $84.64. The firm has a market cap of $21.27 billion, a PE ratio of -203.53 and a beta of 3.18. The stock has a 50 day moving average of $47.17 and a 200-day moving average of $44.19.

IonQ (NYSE:IONQ) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.34) 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 for the quarter, compared to analyst estimates of $49.75 million. During the same quarter last year, the firm earned ($0.14) earnings per share. The firm’s quarterly revenue was up 754.7% compared to the same quarter last year. As a group, equities analysts predict that IonQ, Inc. will post -2.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Benchmark reduced their target price on IonQ from $75.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Wedbush reiterated an “outperform” rating and set a $60.00 price target on shares of IonQ in a report on Monday, May 4th. DA Davidson cut their price target on IonQ from $55.00 to $35.00 and set a “neutral” rating for the company in a report on Thursday, February 26th. Morgan Stanley set a $48.50 price target on IonQ in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded IonQ from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, IonQ currently has a consensus rating of “Moderate Buy” and an average target price of $68.63.

Insider Buying and Selling

In related news, insider Robert T. Cardillo sold 3,773 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total value of $188,272.70. Following the completion of the transaction, the insider directly owned 139,967 shares in the company, valued at approximately $6,984,353.30. This represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John W. Raymond sold 2,800 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $33.34, for a total value of $93,352.00. Following the completion of the transaction, the insider owned 83,963 shares of the company’s stock, valued at $2,799,326.42. The trade was a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.20% of the stock is owned by insiders.

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. 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.