Sigma Planning Corp Takes Position in IonQ, Inc. $IONQ

Sigma Planning Corp purchased a new stake in IonQ, Inc. (NYSE:IONQ) in the 2nd quarter, HoldingsChannel reports. The firm purchased 12,915 shares of the company’s stock, valued at approximately $555,000.

A number of other hedge funds have also recently added to or reduced their stakes in IONQ. Close Asset Management Ltd bought a new position in IonQ during the first quarter valued at approximately $35,000. SVB Wealth LLC acquired a new position in shares of IonQ during the 1st quarter worth $35,000. Ameritas Advisory Services LLC bought a new position in shares of IonQ during the 2nd quarter valued at $46,000. Spire Wealth Management raised its holdings in shares of IonQ by 58.0% during the 2nd quarter. Spire Wealth Management now owns 1,090 shares of the company’s stock valued at $47,000 after purchasing an additional 400 shares in the last quarter. Finally, Private Trust Co. NA acquired a new stake in shares of IonQ in the 2nd quarter valued at $52,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Insider Activity at IonQ

In other news, CFO Thomas G. Kramer sold 64,578 shares of the stock in a transaction 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 transaction, the chief financial officer owned 473,302 shares of the company’s stock, valued at $19,793,489.64. This represents a 12.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Rima Alameddine sold 19,976 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $44.40, for a total value of $886,934.40. Following the completion of the transaction, the executive directly owned 532,616 shares in the company, valued at $23,648,150.40. The trade was a 3.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 113,622 shares of company stock worth $4,931,896. 5.20% of the stock is owned by company insiders.

IonQ Price Performance

Shares of IonQ stock opened at $59.07 on Friday. The firm has a market cap of $20.52 billion, a P/E ratio of -11.04 and a beta of 2.59. IonQ, Inc. has a fifty-two week low of $17.88 and a fifty-two week high of $84.64. The firm has a 50 day simple moving average of $61.61 and a 200 day simple moving average of $47.03.

IonQ (NYSE:IONQ) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($3.14). The firm had revenue of $39.87 million for the quarter, compared to analyst estimates of $26.99 million. IonQ had a negative net margin of 1,836.32% and a negative return on equity of 127.06%. The company’s revenue was up 221.5% compared to the same quarter last year. During the same period last year, the company earned ($0.24) EPS. IonQ has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that IonQ, Inc. will post -0.86 EPS for the current year.

Analyst Upgrades and Downgrades

IONQ has been the subject of several recent analyst reports. DA Davidson upped their price target on IonQ from $35.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday. B. Riley raised their price target on shares of IonQ from $75.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Wolfe Research began coverage on IonQ in a research report on Wednesday, July 30th. They set a “peer perform” rating on the stock. Rosenblatt Securities upped their target price on shares of IonQ from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Zacks Research upgraded IonQ from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $68.11.

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.