Stratos Wealth Partners LTD. Has $458,000 Stock Position in IonQ, Inc. (NYSE:IONQ)

Stratos Wealth Partners LTD. grew its position in shares of IonQ, Inc. (NYSE:IONQ) by 15.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,740 shares of the company’s stock after acquiring an additional 2,814 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in IonQ were worth $458,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of IONQ. Proficio Capital Partners LLC acquired a new position in IonQ during the 4th quarter worth approximately $2,352,000. Raymond James Financial Inc. acquired a new position in IonQ during the 4th quarter worth approximately $10,768,000. AlphaQuest LLC acquired a new position in IonQ during the 4th quarter worth approximately $160,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in IonQ by 42.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,010 shares of the company’s stock worth $1,671,000 after acquiring an additional 11,994 shares during the last quarter. Finally, Independent Advisor Alliance acquired a new position in IonQ during the 4th quarter worth approximately $556,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

IonQ Trading Up 1.8%

IONQ stock opened at $42.55 on Tuesday. The firm has a market capitalization of $11.13 billion, a PE ratio of -28.55 and a beta of 2.55. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The business’s 50 day simple moving average is $39.61 and its 200 day simple moving average is $33.95.

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

Insider Buying and Selling at IonQ

In related news, CRO Rima Alameddine sold 65,000 shares of the business’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $38.57, for a total transaction of $2,507,050.00. Following the transaction, the executive directly owned 552,592 shares of the company’s stock, valued at approximately $21,313,473.44. The trade was a 10.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Masi Niccolo De sold 2,597,500 shares of the company’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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,137,583 shares of company stock worth $357,962,352 in the last three months. 5.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IONQ. DA Davidson reduced their price target on IonQ from $50.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, April 14th. 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. Morgan Stanley upped their price objective on IonQ from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. Cantor Fitzgerald started coverage on IonQ in a research note on Wednesday, July 2nd. They set an “overweight” rating and a $45.00 price objective on the stock. Finally, Benchmark upped their price objective on IonQ from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.43.

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.