Fmr LLC Grows Stake in IonQ, Inc. (NYSE:IONQ)

Fmr LLC boosted its position in shares of IonQ, Inc. (NYSE:IONQ) by 7.2% during the third quarter, Holdings Channel reports. The firm owned 612,625 shares of the company’s stock after buying an additional 41,125 shares during the quarter. Fmr LLC’s holdings in IonQ were worth $5,354,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of IONQ. Arizona State Retirement System lifted its holdings in IonQ by 3.6% in the 2nd quarter. Arizona State Retirement System now owns 49,550 shares of the company’s stock valued at $348,000 after purchasing an additional 1,731 shares in the last quarter. Verity Asset Management Inc. lifted its stake in shares of IonQ by 12.4% during the third quarter. Verity Asset Management Inc. now owns 33,898 shares of the company’s stock valued at $296,000 after buying an additional 3,736 shares during the period. Quest Partners LLC boosted its position in IonQ by 4,824.2% during the second quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock worth $46,000 after acquiring an additional 6,368 shares during the last quarter. Principal Financial Group Inc. grew its stake in IonQ by 40.6% in the 2nd quarter. Principal Financial Group Inc. now owns 26,801 shares of the company’s stock worth $188,000 after acquiring an additional 7,744 shares during the period. Finally, Creative Planning grew its stake in IonQ by 47.8% in the 3rd quarter. Creative Planning now owns 24,364 shares of the company’s stock worth $213,000 after acquiring an additional 7,878 shares during the period. Institutional investors and hedge funds own 41.42% of the company’s stock.

Analysts Set New Price Targets

IONQ has been the subject of several recent analyst reports. Benchmark lifted their price target on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC raised their target price on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Craig Hallum upped their price target on shares of IonQ from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

IonQ Stock Performance

IONQ stock opened at $29.99 on Friday. The stock’s fifty day moving average is $21.70 and its two-hundred day moving average is $12.55. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of -37.02 and a beta of 2.47. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $38.45.

IonQ (NYSE:IONQ) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). The business had revenue of $12.40 million for the quarter, compared to analyst estimates of $10.56 million. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. IonQ’s revenue for the quarter was up 102.1% on a year-over-year basis. During the same period last year, the business posted ($0.22) earnings per share. As a group, analysts predict that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Insider Buying and Selling at IonQ

In other news, CRO Rima Alameddine sold 22,875 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.75, for a total value of $406,031.25. Following the completion of the sale, the executive now owns 592,658 shares in the company, valued at $10,519,679.50. This represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 66,000 shares of company stock valued at $972,331. Corporate insiders own 11.60% of the company’s stock.

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.