Owen LaRue LLC Takes Position in IonQ, Inc. $IONQ

Owen LaRue LLC acquired a new stake in IonQ, Inc. (NYSE:IONQ) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 61,794 shares of the company’s stock, valued at approximately $2,655,000. IonQ makes up 1.1% of Owen LaRue LLC’s portfolio, making the stock its 23rd biggest position.

A number of other institutional investors also recently modified their holdings of the company. Perigon Wealth Management LLC boosted its stake in shares of 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 purchasing an additional 1,914 shares during the last quarter. Kennedy Investment Group acquired a new stake in shares of IonQ during the 2nd quarter worth approximately $353,000. Wealth Management Partners LLC acquired a new stake in shares of IonQ during the 2nd quarter worth approximately $465,000. Farther Finance Advisors LLC lifted its holdings in shares of IonQ by 252.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 5,155 shares of the company’s stock worth $222,000 after purchasing an additional 3,694 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in shares of IonQ in the 2nd quarter worth $4,176,000. 41.42% of the stock is owned by institutional investors.

IonQ Trading Down 6.0%

Shares of NYSE IONQ opened at $69.44 on Friday. IonQ, Inc. has a 12 month low of $7.59 and a 12 month high of $76.13. The firm has a market capitalization of $20.61 billion, a price-to-earnings ratio of -34.55 and a beta of 2.54. The business has a 50-day moving average of $46.68 and a 200-day moving average of $37.83.

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

Insider Buying and Selling

In related news, CRO Rima Alameddine sold 19,976 shares of the business’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 value of $886,934.40. Following the completion of the sale, the executive owned 532,616 shares in the company, valued at $23,648,150.40. The trade was a 3.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas G. Kramer sold 64,578 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $41.82, for a total value of $2,700,651.96. Following the completion of the sale, the chief financial officer owned 473,302 shares of the company’s stock, valued at $19,793,489.64. The trade was a 12.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 351,047 shares of company stock worth $15,645,611 over the last ninety days. Corporate insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on IONQ shares. Sanford C. Bernstein initiated coverage on IonQ in a report on Wednesday, July 30th. They issued a “market perform” rating on the stock. Cantor Fitzgerald lifted their target price on IonQ from $45.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, September 15th. Oppenheimer started coverage on IonQ in a research note on Wednesday, July 30th. They set an “outperform” rating on the stock. Needham & Company LLC lifted their price objective on IonQ from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Finally, DA Davidson lowered IonQ from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a report on Thursday, August 7th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.33.

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.