Pure Financial Advisors LLC Makes New Investment in IonQ, Inc. $IONQ

Pure Financial Advisors LLC purchased a new stake in IonQ, Inc. (NYSE:IONQ) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 14,672 shares of the company’s stock, valued at approximately $902,000.

Several other institutional investors also recently made changes to their positions in IONQ. TD Waterhouse Canada Inc. raised its position in shares of IonQ by 28.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,008 shares of the company’s stock worth $40,000 after buying an additional 223 shares during the period. Hilltop National Bank increased its stake in IonQ by 112.5% during the third quarter. Hilltop National Bank now owns 425 shares of the company’s stock worth $26,000 after acquiring an additional 225 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of IonQ by 11.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,480 shares of the company’s stock worth $153,000 after purchasing an additional 261 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of IonQ by 50.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock valued at $36,000 after purchasing an additional 279 shares in the last quarter. Finally, Rothschild Investment LLC lifted its stake in shares of IonQ by 12.2% in the 2nd quarter. Rothschild Investment LLC now owns 2,720 shares of the company’s stock valued at $117,000 after purchasing an additional 295 shares in the last quarter. 41.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IONQ. Mizuho assumed coverage on shares of IonQ in a report on Thursday, December 11th. They issued an “outperform” rating and a $90.00 price target on the stock. Morgan Stanley increased their price objective on shares of IonQ from $32.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Cantor Fitzgerald lifted their target price on shares of IonQ from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Jefferies Financial Group began coverage on shares of IonQ in a research report on Tuesday, December 16th. They set a “buy” rating and a $100.00 price target for the company. Finally, B. Riley raised their price objective on IonQ from $75.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Nine equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $72.08.

IonQ Trading Up 0.3%

NYSE IONQ opened at $45.38 on Wednesday. The stock has a market cap of $15.77 billion, a P/E ratio of -8.48 and a beta of 2.62. The company’s fifty day simple moving average is $51.43 and its 200-day simple moving average is $50.54. IonQ, Inc. has a 52 week low of $17.88 and a 52 week high of $84.64.

IonQ (NYSE:IONQ) last released its quarterly earnings results 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). IonQ had a negative return on equity of 127.06% and a negative net margin of 1,836.32%.The firm had revenue of $39.87 million for the quarter, compared to analysts’ expectations of $26.99 million. During the same period last year, the firm earned ($0.24) EPS. The business’s quarterly revenue was up 221.5% on a year-over-year basis. On average, research analysts expect that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Insider Transactions at IonQ

In related news, Director Kathryn K. Chou sold 5,000 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the transaction, the director owned 60,839 shares in the company, valued at approximately $3,346,145. The trade was a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Rima Alameddine sold 100,000 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $46.89, for a total value of $4,689,000.00. Following the completion of the transaction, the executive directly owned 432,616 shares of the company’s stock, valued at $20,285,364.24. This represents a 18.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 125,000 shares of company stock valued at $5,992,000. 5.20% of the stock is currently owned by insiders.

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.