International Assets Investment Management LLC Acquires New Stake in IonQ, Inc. $IONQ

International Assets Investment Management LLC acquired a new stake in shares of IonQ, Inc. (NYSE:IONQ) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 5,444 shares of the company’s stock, valued at approximately $234,000.

A number of other large investors also recently bought and sold shares of IONQ. GAMMA Investing LLC boosted its holdings in IonQ by 116.7% during the 1st quarter. GAMMA Investing LLC now owns 2,462 shares of the company’s stock valued at $54,000 after acquiring an additional 1,326 shares during the period. SG Americas Securities LLC boosted its holdings in IonQ by 60.2% during the 1st quarter. SG Americas Securities LLC now owns 12,818 shares of the company’s stock valued at $283,000 after acquiring an additional 4,818 shares during the period. Janney Montgomery Scott LLC raised its position in IonQ by 32.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 27,476 shares of the company’s stock valued at $606,000 after purchasing an additional 6,717 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in IonQ by 42.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 160,094 shares of the company’s stock valued at $3,533,000 after purchasing an additional 47,937 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its position in IonQ by 100.0% during 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 in the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Insider Activity

In related news, insider Paul T. Dacier sold 4,175 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $44.40, for a total transaction of $185,370.00. Following the transaction, the insider directly owned 114,454 shares in the company, valued at $5,081,757.60. The trade was a 3.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert T. Cardillo sold 8,773 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $50.52, for a total value of $443,211.96. Following the transaction, the insider owned 37,436 shares in the company, valued at approximately $1,891,266.72. This trade represents a 18.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 131,398 shares of company stock worth $5,665,690 over the last quarter. Company insiders own 5.20% of the company’s stock.

IonQ Trading Up 7.2%

IONQ opened at $59.44 on Friday. The firm has a market cap of $17.65 billion, a price-to-earnings ratio of -29.57 and a beta of 2.60. IonQ, Inc. has a 12 month low of $14.15 and a 12 month high of $84.64. The stock has a fifty day moving average price of $57.42 and a 200-day moving average price of $44.15.

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

Wall Street Analyst Weigh In

IONQ has been the subject of a number of research analyst reports. Oppenheimer initiated coverage on IonQ in a research report on Wednesday, July 30th. They set an “outperform” rating for the company. Wolfe Research initiated coverage on IonQ in a research report on Wednesday, July 30th. They set a “peer perform” rating for the company. 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IonQ in a research report on Wednesday, October 8th. Finally, Zacks Research lowered IonQ from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.