Stratos Wealth Partners LTD. Has $294,000 Stake in IonQ, Inc. (NYSE:IONQ)

Stratos Wealth Partners LTD. decreased its position in shares of IonQ, Inc. (NYSE:IONQ) by 37.8% during the 4th quarter, HoldingsChannel reports. The fund owned 23,735 shares of the company’s stock after selling 14,421 shares during the period. Stratos Wealth Partners LTD.’s holdings in IonQ were worth $294,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in shares of IonQ during the 2nd quarter valued at $28,000. Raymond James Financial Services Advisors Inc. bought a new position in IonQ during the 4th quarter worth $37,000. Harbour Investments Inc. raised its position in IonQ by 193.2% during the 2nd quarter. Harbour Investments Inc. now owns 2,932 shares of the company’s stock worth $40,000 after purchasing an additional 1,932 shares during the last quarter. Captrust Financial Advisors bought a new position in IonQ during the 2nd quarter worth $44,000. Finally, FNY Investment Advisers LLC raised its position in IonQ by 28.0% during the 4th quarter. FNY Investment Advisers LLC now owns 4,532 shares of the company’s stock worth $56,000 after purchasing an additional 990 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IONQ. The Goldman Sachs Group lowered their target price on IonQ from $13.00 to $11.50 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of IonQ in a research report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $16.50.

IonQ Trading Down 6.2 %

IONQ stock opened at $7.53 on Tuesday. The stock has a 50-day moving average price of $9.93 and a 200-day moving average price of $11.58. IonQ, Inc. has a 1-year low of $5.29 and a 1-year high of $21.60. The firm has a market cap of $1.57 billion, a PE ratio of -9.65 and a beta of 2.14.

IonQ (NYSE:IONQ) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.03. IonQ had a negative return on equity of 28.27% and a negative net margin of 715.77%. The firm had revenue of $6.11 million during the quarter, compared to analyst estimates of $5.70 million. On average, analysts forecast that IonQ, Inc. will post -1.24 earnings per share for the current year.

Insider Transactions at IonQ

In other news, CTO Jungsang Kim sold 10,220 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.20, for a total value of $104,244.00. Following the completion of the sale, the chief technology officer now directly owns 6,619,941 shares in the company, valued at approximately $67,523,398.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Thomas G. Kramer sold 19,672 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.20, for a total value of $200,654.40. Following the completion of the sale, the chief financial officer now directly owns 954,224 shares in the company, valued at approximately $9,733,084.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Jungsang Kim sold 10,220 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.20, for a total value of $104,244.00. Following the completion of the sale, the chief technology officer now owns 6,619,941 shares of the company’s stock, valued at $67,523,398.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,556 shares of company stock valued at $882,871. Corporate insiders own 13.00% of the company’s stock.

IonQ 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.