Keystone Financial Group Raises Stock Position in IonQ, Inc. $IONQ

Keystone Financial Group increased its position in shares of IonQ, Inc. (NYSE:IONQFree Report) by 25.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,056 shares of the company’s stock after acquiring an additional 9,631 shares during the period. Keystone Financial Group’s holdings in IonQ were worth $2,111,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Global Retirement Partners LLC grew its position in shares of IonQ by 25.1% during the 4th quarter. Global Retirement Partners LLC now owns 22,221 shares of the company’s stock valued at $997,000 after purchasing an additional 4,453 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of IonQ in the fourth quarter worth $1,930,000. Princeton Capital Management LLC raised its position in shares of IonQ by 4.1% in the fourth quarter. Princeton Capital Management LLC now owns 13,064 shares of the company’s stock worth $586,000 after buying an additional 510 shares in the last quarter. ABN Amro Investment Solutions bought a new stake in IonQ during the fourth quarter valued at $539,000. Finally, IFP Advisors Inc boosted its stake in IonQ by 49.2% during the fourth quarter. IFP Advisors Inc now owns 4,936 shares of the company’s stock valued at $221,000 after buying an additional 1,628 shares during the period. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

IonQ Stock Performance

Shares of IONQ opened at $58.99 on Friday. The firm has a market cap of $22.02 billion, a price-to-earnings ratio of -210.66 and a beta of 3.05. IonQ, Inc. has a fifty-two week low of $25.89 and a fifty-two week high of $84.64. The firm has a 50 day moving average price of $39.79 and a 200-day moving average price of $43.13.

IonQ (NYSE:IONQGet Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.08). The business had revenue of $64.67 million for the quarter, compared to the consensus estimate of $49.75 million. IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. IonQ’s revenue for the quarter was up 754.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.14) EPS. As a group, equities research analysts predict that IonQ, Inc. will post -2.26 earnings per share for the current year.

Insider Activity

In other news, insider Robert T. Cardillo sold 5,165 shares of IonQ stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $39.44, for a total value of $203,707.60. Following the transaction, the insider owned 112,291 shares in the company, valued at approximately $4,428,757.04. The trade was a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John W. Raymond sold 2,800 shares of the stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $33.34, for a total value of $93,352.00. Following the sale, the insider owned 83,963 shares of the company’s stock, valued at $2,799,326.42. This represents a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 12,354 shares of company stock valued at $504,428. 5.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wall Street Zen lowered IonQ from a “sell” rating to a “strong sell” rating in a research note on Monday, May 11th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price target on shares of IonQ in a report on Thursday, February 26th. DA Davidson lowered their price target on IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, February 26th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IonQ in a report on Monday, February 9th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $60.00 price target on shares of IonQ in a report on Monday, May 4th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.63.

View Our Latest Stock Analysis on IONQ

IonQ News Roundup

Here are the key news stories impacting IonQ this week:

IonQ Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for IonQ (NYSE:IONQ)

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