Signaturefd LLC Purchases 908 Shares of IonQ, Inc. $IONQ

Signaturefd LLC boosted its holdings in IonQ, Inc. (NYSE:IONQ) by 22.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,956 shares of the company’s stock after acquiring an additional 908 shares during the quarter. Signaturefd LLC’s holdings in IonQ were worth $213,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Owen LaRue LLC bought a new position in IonQ in the 2nd quarter valued at approximately $2,655,000. Perigon Wealth Management LLC lifted its position in IonQ by 17.9% in the 2nd quarter. Perigon Wealth Management LLC now owns 12,581 shares of the company’s stock valued at $541,000 after acquiring an additional 1,914 shares in the last quarter. Kennedy Investment Group bought a new position in IonQ in the 2nd quarter valued at approximately $353,000. Wealth Management Partners LLC bought a new position in IonQ in the 2nd quarter valued at approximately $465,000. Finally, Farther Finance Advisors LLC lifted its position in IonQ by 252.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,155 shares of the company’s stock valued at $222,000 after acquiring an additional 3,694 shares in the last quarter. 41.42% of the stock is owned by institutional investors.

IonQ Stock Up 10.1%

NYSE IONQ opened at $69.48 on Friday. The stock’s 50-day moving average price is $48.79 and its 200-day moving average price is $39.31. IonQ, Inc. has a 52 week low of $8.79 and a 52 week high of $76.13. The company has a market capitalization of $20.62 billion, a P/E ratio of -34.57 and a beta of 2.60.

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

Insider Buying and Selling

In other IonQ news, Director Kathryn K. Chou sold 6,789 shares of the firm’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $43.14, for a total transaction of $292,877.46. Following the sale, the director directly owned 60,839 shares of the company’s stock, valued at $2,624,594.46. This trade represents a 10.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Rima Alameddine sold 45,000 shares of the business’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $46.18, for a total value of $2,078,100.00. Following the completion of the transaction, the executive owned 552,592 shares in the company, valued at $25,518,698.56. The trade was a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 279,047 shares of company stock worth $12,602,891 in the last three months. Corporate insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Cantor Fitzgerald upped their price objective on IonQ from $45.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. Needham & Company LLC boosted their target price on shares of IonQ from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Wolfe Research started coverage on shares of IonQ in a research note on Wednesday, July 30th. They set a “peer perform” rating for the company. Sanford C. Bernstein started coverage on shares of IonQ in a research note on Wednesday, July 30th. They set a “market perform” rating for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $70.00 target price on shares of IonQ in a research note on Monday, September 15th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.