Clear Street Group Inc. Raises Stock Position in IonQ, Inc. $IONQ

Clear Street Group Inc. boosted its position in IonQ, Inc. (NYSE:IONQFree Report) by 219.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,195,818 shares of the company’s stock after purchasing an additional 2,196,017 shares during the quarter. IonQ comprises 0.5% of Clear Street Group Inc.’s investment portfolio, making the stock its 13th biggest position. Clear Street Group Inc. owned about 0.92% of IonQ worth $143,396,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Ameriflex Group Inc. increased its holdings in shares of IonQ by 485.7% in the third quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock worth $25,000 after purchasing an additional 340 shares during the period. Beaird Harris Wealth Management LLC boosted its stake in IonQ by 117.4% during the third quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock valued at $31,000 after buying an additional 270 shares during the period. Accent Capital Management LLC grew its position in IonQ by 171.8% during the fourth quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock worth $26,000 after buying an additional 371 shares in the last quarter. Kelleher Financial Advisors bought a new position in IonQ in the 3rd quarter worth about $36,000. Finally, Fortitude Family Office LLC increased its stake in IonQ by 3,800.0% in the 4th quarter. Fortitude Family Office LLC now owns 624 shares of the company’s stock worth $28,000 after acquiring an additional 608 shares during the last quarter. 41.42% of the stock is owned by institutional investors.

Insider Transactions at IonQ

In other IonQ news, insider Robert T. Cardillo sold 3,773 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $49.90, for a total transaction of $188,272.70. Following the transaction, the insider directly owned 139,967 shares in the company, valued at $6,984,353.30. This trade represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on IONQ shares. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price target on shares of IonQ in a research report on Thursday. Jefferies Financial Group set a $85.00 price objective on shares of IonQ in a research report on Thursday, May 7th. Wall Street Zen raised shares of IonQ from a “strong sell” rating to a “sell” rating in a research note on Saturday. Weiss Ratings upgraded shares of IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Finally, Morgan Stanley set a $48.50 price target on shares of IonQ in a research note on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, IonQ presently has a consensus rating of “Moderate Buy” and an average target price of $68.63.

View Our Latest Stock Analysis on IonQ

Key Stories Impacting IonQ

Here are the key news stories impacting IonQ this week:

IonQ Stock Down 0.2%

Shares of IONQ stock opened at $57.88 on Friday. The business has a 50-day moving average price of $50.21 and a two-hundred day moving average price of $44.64. 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 $21.61 billion, a P/E ratio of -206.73 and a beta of 3.18.

IonQ (NYSE:IONQGet Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.08). The firm had revenue of $64.67 million for the quarter, compared to the consensus estimate of $49.75 million. IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. IonQ’s revenue for the quarter was up 754.7% compared to the same quarter last year. During the same quarter last year, the company posted ($0.14) earnings per share. As a group, research analysts expect that IonQ, Inc. will post -2.26 EPS for the current fiscal year.

IonQ Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for IonQ (NYSE:IONQ)

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