Capital Advisors Inc. OK Has $20.89 Million Holdings in IonQ, Inc. $IONQ

Capital Advisors Inc. OK trimmed its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 4.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,605 shares of the company’s stock after selling 15,930 shares during the period. Capital Advisors Inc. OK owned 0.11% of IonQ worth $20,886,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Archer Investment Corp grew its holdings in shares of IonQ by 119.3% during the second quarter. Archer Investment Corp now owns 592 shares of the company’s stock worth $25,000 after purchasing an additional 322 shares during the last quarter. Hilltop National Bank lifted its position in IonQ by 112.5% during the 3rd quarter. Hilltop National Bank now owns 425 shares of the company’s stock worth $26,000 after buying an additional 225 shares in the last quarter. Financial Consulate Inc. acquired a new position in IonQ during the 3rd quarter worth about $29,000. EverSource Wealth Advisors LLC grew its holdings in IonQ by 50.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock worth $36,000 after acquiring an additional 279 shares during the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new stake in IonQ in the 2nd quarter valued at about $39,000. Institutional investors own 41.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Benchmark raised their price target on shares of IonQ from $55.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Needham & Company LLC reissued a “buy” rating and issued a $80.00 target price on shares of IonQ in a research note on Thursday, November 6th. JPMorgan Chase & Co. initiated coverage on IonQ in a research note on Thursday, November 20th. They set a “neutral” rating and a $47.00 price target on the stock. Cantor Fitzgerald raised their price target on IonQ from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Wedbush began coverage on IonQ in a report on Wednesday, December 17th. They set an “outperform” rating and a $60.00 price objective for the company. Nine analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $72.08.

IonQ Stock Up 4.3%

Shares of IonQ stock opened at $46.79 on Friday. The business has a fifty day simple moving average of $50.66 and a 200 day simple moving average of $50.61. The stock has a market cap of $16.26 billion, a PE ratio of -8.75 and a beta of 2.63. IonQ, Inc. has a 12 month low of $17.88 and a 12 month high of $84.64.

IonQ (NYSE:IONQ) last issued its earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.14). The company had revenue of $39.87 million for the quarter, compared to the consensus estimate of $26.99 million. IonQ had a negative return on equity of 127.06% and a negative net margin of 1,836.32%.IonQ’s quarterly revenue was up 221.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.24) EPS. Analysts expect that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Insider Activity at IonQ

In other IonQ news, Director Kathryn K. Chou sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $51.40, for a total transaction of $1,028,000.00. Following the sale, the director directly owned 60,839 shares in the company, valued at approximately $3,127,124.60. This trade represents a 24.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William J. Teuber, Jr. purchased 2,000 shares of IonQ stock in a transaction dated Tuesday, November 11th. The stock was bought at an average price of $54.81 per share, with a total value of $109,620.00. Following the acquisition, the director directly owned 6,413 shares of the company’s stock, valued at approximately $351,496.53. This trade represents a 45.32% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders sold 125,000 shares of company stock worth $5,992,000. 5.20% of the stock is currently owned by company insiders.

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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.