Y Intercept Hong Kong Ltd Makes New Investment in IonQ, Inc. $IONQ

Y Intercept Hong Kong Ltd bought a new position in shares of IonQ, Inc. (NYSE:IONQ) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 142,050 shares of the company’s stock, valued at approximately $6,104,000. Y Intercept Hong Kong Ltd owned approximately 0.05% of IonQ at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in shares of IonQ by 4.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,882 shares of the company’s stock valued at $296,000 after purchasing an additional 306 shares during the period. Stratos Wealth Partners LTD. raised its stake in shares of IonQ by 1.8% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 21,118 shares of the company’s stock valued at $907,000 after purchasing an additional 378 shares during the period. Signaturefd LLC raised its stake in shares of IonQ by 20.7% in the 1st quarter. Signaturefd LLC now owns 4,048 shares of the company’s stock valued at $89,000 after purchasing an additional 694 shares during the period. Golden State Wealth Management LLC raised its stake in shares of IonQ by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,616 shares of the company’s stock valued at $36,000 after purchasing an additional 808 shares during the period. Finally, Allworth Financial LP raised its stake in shares of IonQ by 33.7% in the 1st quarter. Allworth Financial LP now owns 3,682 shares of the company’s stock valued at $81,000 after purchasing an additional 929 shares during the period. Institutional investors and hedge funds own 41.42% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on IONQ shares. Zacks Research downgraded IonQ from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. B. Riley lifted their target price on IonQ from $75.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IonQ in a research report on Wednesday, October 8th. Oppenheimer started coverage on IonQ in a research report on Wednesday, July 30th. They issued an “outperform” rating on the stock. Finally, Cantor Fitzgerald lifted their target price on IonQ from $45.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, IonQ presently has a consensus rating of “Hold” and an average target price of $58.33.

IonQ Stock Up 4.1%

NYSE:IONQ opened at $62.77 on Tuesday. The stock’s 50 day moving average price is $58.27 and its two-hundred day moving average price is $44.96. The firm has a market capitalization of $21.81 billion, a price-to-earnings ratio of -31.23 and a beta of 2.60. IonQ, Inc. has a 12-month low of $14.15 and a 12-month high of $84.64.

IonQ (NYSE:IONQ) last released its quarterly earnings data 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 business had revenue of $20.69 million during the quarter, compared to the consensus estimate of $17.23 million. IonQ had a negative net margin of 885.21% and a negative return on equity of 67.11%. IonQ’s quarterly revenue was up 81.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) EPS. Equities research analysts expect that IonQ, Inc. will post -0.86 EPS for the current year.

Insider Buying and Selling

In other news, CFO Thomas G. Kramer sold 64,578 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $41.82, for a total transaction of $2,700,651.96. Following the transaction, the chief financial officer owned 473,302 shares in the company, valued at approximately $19,793,489.64. This trade represents a 12.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Masi Niccolo De sold 16,120 shares of the 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 $715,728.00. Following the transaction, the chief executive officer owned 1,181,186 shares in the company, valued at approximately $52,444,658.40. This trade represents a 1.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 131,398 shares of company stock valued at $5,665,690 in the last ninety days. 5.20% of the stock is currently owned by company insiders.

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.