Princeton Capital Management LLC Takes $471,000 Position in IonQ, Inc. $IONQ

Princeton Capital Management LLC acquired a new position in IonQ, Inc. (NYSE:IONQ) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 10,959 shares of the company’s stock, valued at approximately $471,000.

Other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its position in IonQ by 4.7% in the second quarter. Nisa Investment Advisors LLC now owns 6,882 shares of the company’s stock worth $296,000 after buying an additional 306 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in IonQ by 1.8% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 21,118 shares of the company’s stock worth $907,000 after acquiring an additional 378 shares in the last quarter. Spire Wealth Management raised its stake in IonQ by 58.0% during the 2nd quarter. Spire Wealth Management now owns 1,090 shares of the company’s stock worth $47,000 after acquiring an additional 400 shares during the period. Golden State Wealth Management LLC lifted its holdings in IonQ by 61.9% during the second quarter. Golden State Wealth Management LLC now owns 1,308 shares of the company’s stock valued at $56,000 after purchasing an additional 500 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of IonQ by 20.7% in the first quarter. Signaturefd LLC now owns 4,048 shares of the company’s stock worth $89,000 after purchasing an additional 694 shares in the last quarter. 41.42% of the stock is owned by institutional investors.

Insider Activity at IonQ

In other IonQ news, CFO Thomas G. Kramer sold 64,578 shares of the firm’s stock in a transaction dated Wednesday, September 3rd. The shares were 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 trade represents a 12.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert T. Cardillo sold 8,773 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $50.52, for a total value of $443,211.96. Following the transaction, the insider directly owned 37,436 shares of the company’s stock, valued at $1,891,266.72. This trade represents a 18.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 113,622 shares of company stock valued at $4,931,896 in the last ninety days. 5.20% of the stock is owned by insiders.

IonQ Price Performance

IONQ opened at $57.53 on Friday. The stock has a market capitalization of $19.99 billion, a PE ratio of -10.75 and a beta of 2.59. IonQ, Inc. has a 12-month low of $16.29 and a 12-month high of $84.64. The firm’s fifty day moving average price is $61.28 and its 200 day moving average price is $46.64.

IonQ (NYSE:IONQ) last announced its quarterly earnings data 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 188.98%. The company’s quarterly revenue was up 221.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.24) EPS. IonQ has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Rosenblatt Securities increased their target price on IonQ from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday. Zacks Research upgraded shares of IonQ from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Sanford C. Bernstein started coverage on shares of IonQ in a report on Wednesday, July 30th. They issued a “market perform” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of IonQ in a research report on Wednesday, October 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price target on shares of IonQ in a report on Thursday. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, IonQ has an average rating of “Hold” and a consensus target price of $67.00.

IonQ 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.