GAMMA Investing LLC Sells 243 Shares of IonQ, Inc. $IONQ

GAMMA Investing LLC decreased its holdings in IonQ, Inc. (NYSE:IONQ) by 9.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,219 shares of the company’s stock after selling 243 shares during the period. GAMMA Investing LLC’s holdings in IonQ were worth $95,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ORG Partners LLC boosted its holdings in shares of IonQ by 348.0% during the 1st quarter. ORG Partners LLC now owns 1,120 shares of the company’s stock valued at $26,000 after acquiring an additional 870 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of IonQ by 780.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company’s stock valued at $34,000 after acquiring an additional 1,295 shares in the last quarter. Close Asset Management Ltd acquired a new stake in shares of IonQ during the 1st quarter valued at $35,000. SVB Wealth LLC acquired a new stake in shares of IonQ during the 1st quarter valued at $35,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of IonQ by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,616 shares of the company’s stock valued at $36,000 after acquiring an additional 808 shares in the last quarter. Institutional investors own 41.42% of the company’s stock.

Insider Buying and Selling

In related news, CEO Masi Niccolo De sold 16,120 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $44.40, for a total transaction of $715,728.00. Following the transaction, the chief executive officer directly owned 1,181,186 shares of the company’s stock, valued at approximately $52,444,658.40. This represents a 1.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Rima Alameddine sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $46.18, for a total value of $2,078,100.00. Following the transaction, the executive directly owned 552,592 shares in the company, valued at approximately $25,518,698.56. This trade represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 279,047 shares of company stock worth $12,602,891 over the last three months. Insiders own 5.20% of the company’s stock.

IonQ Price Performance

Shares of NYSE:IONQ opened at $63.23 on Thursday. The company has a market capitalization of $18.77 billion, a price-to-earnings ratio of -31.46 and a beta of 2.60. The business’s 50-day moving average is $48.28 and its 200-day moving average is $39.00. IonQ, Inc. has a 1 year low of $7.99 and a 1 year high of $76.13.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.57). The business had revenue of $20.69 million during the quarter, compared to analyst estimates of $17.23 million. IonQ had a negative net margin of 885.21% and a negative return on equity of 67.11%. The firm’s revenue for the quarter was up 81.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.18) earnings per share. Analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IONQ. Oppenheimer began coverage on IonQ in a report on Wednesday, July 30th. They set an “outperform” rating on the stock. Sanford C. Bernstein began coverage on IonQ in a report on Wednesday, July 30th. They set a “market perform” rating on the stock. DA Davidson downgraded IonQ from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a report on Thursday, August 7th. Wolfe Research started coverage on IonQ in a report on Wednesday, July 30th. They set a “peer perform” rating on the stock. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $70.00 target price on shares of IonQ in a report on Monday, September 15th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.33.

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.