Verity Asset Management Inc. Increases Stock Position in IonQ, Inc. (NYSE:IONQ)

Verity Asset Management Inc. lifted its holdings in shares of IonQ, Inc. (NYSE:IONQGet Rating) by 35.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,395 shares of the company’s stock after buying an additional 4,567 shares during the quarter. Verity Asset Management Inc.’s holdings in IonQ were worth $222,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Royal Bank of Canada lifted its stake in shares of IonQ by 163.5% during the 1st quarter. Royal Bank of Canada now owns 9,092 shares of the company’s stock valued at $115,000 after buying an additional 5,641 shares in the last quarter. Wolverine Asset Management LLC increased its holdings in IonQ by 216.6% during the 1st quarter. Wolverine Asset Management LLC now owns 10,022 shares of the company’s stock worth $127,000 after acquiring an additional 6,856 shares during the period. Level Four Advisory Services LLC bought a new stake in IonQ during the 4th quarter worth approximately $167,000. HighTower Advisors LLC bought a new stake in IonQ during the 1st quarter worth approximately $140,000. Finally, Advisor Group Holdings Inc. bought a new stake in IonQ during the 4th quarter worth approximately $188,000. 62.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on IONQ. Needham & Company LLC began coverage on shares of IonQ in a report on Tuesday, June 7th. They set a “buy” rating and a $9.00 target price on the stock. Benchmark decreased their target price on shares of IonQ to $12.00 in a report on Monday, August 22nd. Finally, The Goldman Sachs Group increased their price target on shares of IonQ from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Tuesday, August 16th.

IonQ Price Performance

Shares of NYSE:IONQ opened at $5.76 on Friday. The company’s fifty day moving average price is $5.71 and its 200-day moving average price is $7.62. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -10.67 and a beta of 1.64. IonQ, Inc. has a one year low of $4.16 and a one year high of $35.90.

IonQ (NYSE:IONQGet Rating) last issued its quarterly earnings results on Monday, August 15th. The company reported ($0.09) EPS for the quarter. IonQ had a negative return on equity of 9.72% and a negative net margin of 1,470.75%. The company had revenue of $2.61 million during the quarter.

Insider Activity at IonQ

In related news, General Counsel Laurie A. Babinski sold 5,086 shares of the stock in a transaction on Monday, September 12th. The shares were sold at an average price of $5.44, for a total transaction of $27,667.84. Following the transaction, the general counsel now owns 244,002 shares of the company’s stock, valued at approximately $1,327,370.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, General Counsel Laurie A. Babinski sold 5,086 shares of the stock in a transaction on Monday, September 12th. The shares were sold at an average price of $5.44, for a total transaction of $27,667.84. Following the transaction, the general counsel now owns 244,002 shares of the company’s stock, valued at approximately $1,327,370.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Peter Hume Chapman sold 7,255 shares of the stock in a transaction on Monday, September 12th. The shares were sold at an average price of $5.44, for a total transaction of $39,467.20. Following the transaction, the chief executive officer now directly owns 466,066 shares in the company, valued at approximately $2,535,399.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,819 shares of company stock valued at $107,815. Insiders own 14.10% of the company’s stock.

IonQ Profile

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IonQ, Inc engages in the development of general-purpose quantum computing systems. It sells access to quantum computers with 20 qubits. 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.

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Institutional Ownership by Quarter for IonQ (NYSE:IONQ)

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