IonQ, Inc. (NYSE:IONQ) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC lifted its holdings in IonQ, Inc. (NYSE:IONQ) by 116.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,462 shares of the company’s stock after acquiring an additional 1,326 shares during the period. GAMMA Investing LLC’s holdings in IonQ were worth $54,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. PDS Planning Inc boosted its stake in shares of IonQ by 2.6% in the fourth quarter. PDS Planning Inc now owns 11,829 shares of the company’s stock valued at $494,000 after purchasing an additional 300 shares during the period. Mariner LLC boosted its stake in IonQ by 0.6% during the 4th quarter. Mariner LLC now owns 54,479 shares of the company’s stock valued at $2,276,000 after acquiring an additional 350 shares during the last quarter. Future Financial Wealth Managment LLC boosted its stake in IonQ by 50.0% during the 1st quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company’s stock valued at $33,000 after acquiring an additional 500 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in IonQ by 2.5% during the 1st quarter. Miracle Mile Advisors LLC now owns 20,500 shares of the company’s stock valued at $452,000 after acquiring an additional 500 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in IonQ by 421.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock valued at $27,000 after acquiring an additional 501 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of IonQ from $29.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, May 8th. Benchmark increased their price objective on shares of IonQ from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of IonQ in a research note on Wednesday, June 11th. Cantor Fitzgerald started coverage on shares of IonQ in a research note on Wednesday, July 2nd. They set an “overweight” rating and a $45.00 price objective on the stock. Finally, DA Davidson reduced their price target on shares of IonQ from $50.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, IonQ currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.43.

Insider Buying and Selling

In related news, Director Kathryn K. Chou sold 25,696 shares of the business’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $40.46, for a total value of $1,039,660.16. Following the sale, the director owned 62,115 shares of the company’s stock, valued at $2,513,172.90. The trade was a 29.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Masi Niccolo De sold 2,597,500 shares of the business’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $40.34, for a total value of $104,783,150.00. Following the completion of the sale, the chief executive officer directly owned 711,987 shares in the company, valued at approximately $28,721,555.58. This represents a 78.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,094,201 shares of company stock worth $355,891,729. 5.20% of the stock is currently owned by company insiders.

IonQ Price Performance

Shares of IonQ stock opened at $45.59 on Thursday. The firm has a market cap of $11.93 billion, a price-to-earnings ratio of -30.60 and a beta of 2.55. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The stock has a 50-day simple moving average of $38.76 and a 200-day simple moving average of $34.13.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.14. IonQ had a negative return on equity of 63.35% and a negative net margin of 753.20%. The business had revenue of $7.57 million for the quarter, compared to the consensus estimate of $7.51 million. During the same period last year, the business earned ($0.19) EPS. The firm’s revenue was down .2% compared to the same quarter last year. As a group, equities research analysts predict that IonQ, Inc. will post -0.86 earnings per share for the current year.

About IonQ

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.