Benjamin Edwards Inc. Buys 19,422 Shares of IonQ, Inc. $IONQ

Benjamin Edwards Inc. boosted its holdings in IonQ, Inc. (NYSE:IONQ) by 49.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,602 shares of the company’s stock after purchasing an additional 19,422 shares during the period. Benjamin Edwards Inc.’s holdings in IonQ were worth $3,604,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Archer Investment Corp increased 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 period. Hilltop National Bank boosted its holdings in IonQ by 112.5% in the third quarter. Hilltop National Bank now owns 425 shares of the company’s stock valued at $26,000 after acquiring an additional 225 shares during the last quarter. Financial Consulate Inc. acquired a new position in IonQ in the third quarter valued at $29,000. EverSource Wealth Advisors LLC increased its holdings in IonQ by 50.5% in the second quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock worth $36,000 after purchasing an additional 279 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new position in IonQ during the second quarter worth $39,000. 41.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In other IonQ news, CRO Rima Alameddine sold 100,000 shares of IonQ stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $46.89, for a total transaction of $4,689,000.00. Following the completion of the transaction, the executive directly owned 432,616 shares of the company’s stock, valued at $20,285,364.24. The trade was a 18.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathryn K. Chou sold 20,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director owned 60,839 shares in the company, valued at $3,127,124.60. This represents a 24.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 125,000 shares of company stock worth $5,992,000. Corporate insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

IONQ has been the topic of a number of analyst reports. Wedbush started coverage on shares of IonQ in a report on Wednesday, December 17th. They issued an “outperform” rating and a $60.00 target price on the stock. Mizuho started coverage on IonQ in a research note on Thursday, December 11th. They set an “outperform” rating and a $90.00 price target for the company. Zacks Research raised IonQ from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Weiss Ratings restated a “sell (d-)” rating on shares of IonQ in a research report on Wednesday, October 8th. Finally, Morgan Stanley raised their price objective on shares of IonQ from $32.00 to $58.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $75.91.

IonQ Trading Down 2.1%

IonQ stock opened at $49.39 on Friday. The stock has a fifty day simple moving average of $49.56 and a two-hundred day simple moving average of $50.94. The firm has a market cap of $17.16 billion, a price-to-earnings ratio of -9.23 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 released its quarterly 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). IonQ had a negative net margin of 1,836.32% and a negative return on equity of 127.06%. The firm had revenue of $39.87 million for the quarter, compared to the consensus estimate of $26.99 million. During the same quarter in the prior year, the firm earned ($0.24) earnings per share. The company’s revenue for the quarter was up 221.5% compared to the same quarter last year. On average, equities research analysts forecast that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

IonQ Company 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.