Kestra Private Wealth Services LLC reduced its stake in shares of IonQ, Inc. (NYSE:IONQ – Free Report) by 33.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,029 shares of the company’s stock after selling 13,540 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in IonQ were worth $779,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clear Street Group Inc. acquired a new stake in shares of IonQ in the 3rd quarter valued at about $61,488,000. Swedbank AB purchased a new position in IonQ during the 4th quarter worth approximately $2,708,000. Jefferies Financial Group Inc. acquired a new position in IonQ during the fourth quarter worth approximately $3,271,000. ProShare Advisors LLC increased its position in IonQ by 30.3% during the fourth quarter. ProShare Advisors LLC now owns 62,184 shares of the company’s stock worth $2,790,000 after buying an additional 14,465 shares during the period. Finally, Forsta AP Fonden acquired a new position in IonQ during the fourth quarter worth approximately $5,488,000. 41.42% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
IONQ has been the subject of several research analyst reports. Morgan Stanley set a $48.50 price objective on IonQ in a report on Thursday, May 7th. Northland Securities lifted their target price on shares of IonQ from $55.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, June 22nd. Wall Street Zen raised shares of IonQ from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th. Wedbush reiterated an “outperform” rating and issued a $60.00 price target on shares of IonQ in a research report on Monday, May 4th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price target on shares of IonQ in a research note on Thursday, June 11th. Ten research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.88.
IonQ Stock Down 4.4%
Shares of IONQ stock opened at $49.14 on Friday. The stock has a market capitalization of $18.34 billion, a PE ratio of -175.50 and a beta of 3.23. IonQ, Inc. has a 52-week low of $25.89 and a 52-week high of $84.64. The stock’s 50-day moving average price is $55.54 and its 200 day moving average price is $45.04.
IonQ (NYSE:IONQ – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The company had revenue of $64.67 million for the quarter, compared to analyst estimates of $49.75 million. During the same period in the previous year, the business posted ($0.14) earnings per share. The firm’s revenue was up 754.7% compared to the same quarter last year. Analysts expect that IonQ, Inc. will post -2.26 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, insider Robert T. Cardillo sold 3,773 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total transaction of $188,272.70. Following the completion of the sale, the insider directly owned 139,967 shares of the company’s stock, valued at $6,984,353.30. This trade represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathryn K. Chou sold 2,757 shares of IonQ stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $55.02, for a total transaction of $151,690.14. Following the completion of the transaction, the director owned 62,608 shares in the company, valued at approximately $3,444,692.16. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 13,102 shares of company stock worth $701,489. 0.55% of the stock is currently owned by company insiders.
More IonQ News
Here are the key news stories impacting IonQ this week:
- Positive Sentiment: IonQ is being added to the Russell 1000 and Russell Midcap indices, a development that can broaden institutional ownership and support demand for the shares. IonQ (IONQ) Joins Russell 1000 As It Shifts From Growth To Value
- Positive Sentiment: Analysts highlighted IonQ’s strong financial position, including about $3.1 billion in liquidity and a growing $470 million contracted backlog, which improves visibility and reduces near-term funding risk. Here’s How Financial Strength Remains a Key Advantage for IONQ
- Positive Sentiment: Coverage continues to point to IonQ as a leading quantum-computing name with strong long-term return potential, helped by rapid revenue growth and government-backed projects. IonQ (IONQ) Stock Looks Pricey On Earnings Yet Strong On Returns
- Neutral Sentiment: Several articles framed IonQ as a high-profile quantum computing stock to watch, but did not introduce a clearly new catalyst.
- Negative Sentiment: Multiple pieces warned that the stock looks expensive after a strong multi-year rally, suggesting valuation may already reflect a lot of optimism. IonQ (IONQ) Stock Looks Pricey On Earnings Yet Strong On Returns
- Negative Sentiment: Bearish commentary also emphasized ongoing losses, cash burn, and sector volatility, which can weigh on sentiment for quantum-computing stocks like IonQ. Quantum Computing’s Cash Crisis: Which Players Can Actually Survive the Long Game?
About IonQ
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.
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