Keystone Financial Group Purchases Shares of 11,000 IonQ, Inc. (NYSE:IONQ)

Keystone Financial Group acquired a new position in shares of IonQ, Inc. (NYSE:IONQ) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 11,000 shares of the company’s stock, valued at approximately $136,000.

Other large investors have also recently bought and sold shares of the company. Quest Partners LLC purchased a new stake in shares of IonQ in the fourth quarter valued at $218,000. Norges Bank acquired a new position in IonQ during the fourth quarter worth approximately $26,430,000. Verity Asset Management Inc. boosted its holdings in shares of IonQ by 17.5% in the 4th quarter. Verity Asset Management Inc. now owns 18,975 shares of the company’s stock valued at $235,000 after purchasing an additional 2,826 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of IonQ during the 4th quarter worth $561,000. Finally, Gratus Capital LLC boosted its holdings in IonQ by 12.5% in the fourth quarter. Gratus Capital LLC now owns 22,500 shares of the company’s stock valued at $279,000 after acquiring an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

IonQ Stock Up 4.4 %

IonQ stock traded up $0.37 during midday trading on Wednesday, hitting $8.85. The stock had a trading volume of 1,523,488 shares, compared to its average volume of 6,313,620. The business has a fifty day moving average price of $8.80 and a 200 day moving average price of $10.75. IonQ, Inc. has a 12 month low of $6.98 and a 12 month high of $21.60.

IonQ (NYSE:IONQ) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. IonQ had a negative net margin of 671.00% and a negative return on equity of 31.76%. The firm had revenue of $7.58 million during the quarter, compared to the consensus estimate of $7.08 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. The firm’s revenue was up 76.9% on a year-over-year basis. On average, sell-side analysts forecast that IonQ, Inc. will post -0.89 earnings per share for the current fiscal year.

Insider Activity at IonQ

In other IonQ news, CTO Jungsang Kim sold 10,220 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $10.20, for a total value of $104,244.00. Following the sale, the chief technology officer now owns 6,619,941 shares in the company, valued at $67,523,398.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Peter Hume Chapman sold 29,452 shares of IonQ stock in a transaction on Monday, March 11th. The stock was sold at an average price of $10.20, for a total value of $300,410.40. Following the transaction, the chief executive officer now directly owns 451,233 shares in the company, valued at approximately $4,602,576.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jungsang Kim sold 10,220 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.20, for a total value of $104,244.00. Following the sale, the chief technology officer now owns 6,619,941 shares in the company, valued at approximately $67,523,398.20. The disclosure for this sale can be found here. Insiders sold 86,556 shares of company stock worth $882,871 in the last 90 days. 13.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on IONQ. The Goldman Sachs Group decreased their price objective on shares of IonQ from $13.00 to $11.50 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 target price on shares of IonQ in a research report on Thursday, May 16th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, IonQ presently has an average rating of “Moderate Buy” and an average target price of $16.50.

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.