8,780 Shares in IonQ, Inc. $IONQ Bought by Ethic Inc.

Ethic Inc. bought a new position in IonQ, Inc. (NYSE:IONQ) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,780 shares of the company’s stock, valued at approximately $353,000.

Other hedge funds also recently made changes to their positions in the company. Close Asset Management Ltd purchased a new position in shares of IonQ in the first quarter worth $35,000. SVB Wealth LLC purchased a new position in shares of IonQ in the first quarter worth $35,000. Golden State Wealth Management LLC increased its stake in shares of IonQ by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 1,616 shares of the company’s stock worth $36,000 after buying an additional 808 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of IonQ in the second quarter worth $46,000. Finally, Private Trust Co. NA purchased a new position in shares of IonQ in the second quarter worth $52,000. 41.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on IONQ shares. Rosenblatt Securities reissued a “buy” rating and set a $70.00 price objective on shares of IonQ in a research report on Monday, September 15th. B. Riley boosted their price objective on shares of IonQ from $75.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Zacks Research downgraded shares of IonQ from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Benchmark boosted their price objective on shares of IonQ from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of IonQ in a research report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, IonQ presently has an average rating of “Hold” and a consensus price target of $58.33.

Insider Activity

In other news, insider Robert T. Cardillo sold 8,773 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $50.52, for a total transaction of $443,211.96. Following the sale, the insider owned 37,436 shares in the company, valued at approximately $1,891,266.72. The trade was a 18.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul T. Dacier sold 4,175 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total transaction of $185,370.00. Following the sale, the insider owned 114,454 shares in the company, valued at approximately $5,081,757.60. This trade represents a 3.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 131,398 shares of company stock worth $5,665,690. 5.20% of the stock is currently owned by corporate insiders.

IonQ Trading Up 6.9%

Shares of IONQ stock opened at $61.07 on Thursday. IonQ, Inc. has a 12 month low of $14.15 and a 12 month high of $84.64. The stock has a market cap of $21.22 billion, a PE ratio of -30.38 and a beta of 2.60. The company’s fifty day moving average price is $59.16 and its 200-day moving average price is $45.42.

IonQ (NYSE:IONQ) last announced its earnings results on Wednesday, August 6th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.57). IonQ had a negative net margin of 885.21% and a negative return on equity of 67.11%. The business had revenue of $20.69 million for the quarter, compared to the consensus estimate of $17.23 million. During the same quarter last year, the firm posted ($0.18) EPS. The business’s quarterly revenue was up 81.6% on a year-over-year basis. On average, sell-side analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current fiscal 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.