12,087 Shares in IonQ, Inc. $IONQ Bought by StoneCrest Wealth Management Inc.

StoneCrest Wealth Management Inc. bought a new stake in IonQ, Inc. (NYSE:IONQ) in the third quarter, HoldingsChannel reports. The fund bought 12,087 shares of the company’s stock, valued at approximately $743,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IONQ. Amazon Com Inc. bought a new position in IonQ during the second quarter worth $36,705,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of IonQ during the 3rd quarter worth about $806,000. Norges Bank acquired a new position in IonQ in the 2nd quarter valued at about $114,767,000. Y Intercept Hong Kong Ltd bought a new position in IonQ in the 2nd quarter valued at about $6,104,000. Finally, Union Bancaire Privee UBP SA lifted its position in IonQ by 8,150.0% during the second quarter. Union Bancaire Privee UBP SA now owns 82,500 shares of the company’s stock worth $3,545,000 after acquiring an additional 81,500 shares during the last quarter. 41.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IONQ has been the topic of several research reports. Mizuho assumed coverage on IonQ in a research report on Thursday, December 11th. They issued an “outperform” rating and a $90.00 target price on the stock. Benchmark upped their price objective on IonQ from $55.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Morgan Stanley lifted their target price on IonQ from $32.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 4th. Needham & Company LLC reissued a “buy” rating and issued a $80.00 target price on shares of IonQ in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. started coverage on shares of IonQ in a research report on Thursday, November 20th. They set a “neutral” rating and a $47.00 price target on the stock. Nine equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $72.08.

Insiders Place Their Bets

In other IonQ news, Director William J. Teuber, Jr. acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was acquired at an average cost of $54.81 per share, for a total transaction of $109,620.00. Following the transaction, the director directly owned 6,413 shares in the company, valued at $351,496.53. This represents a 45.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Rima Alameddine sold 100,000 shares of IonQ stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $46.89, for a total transaction of $4,689,000.00. Following the sale, the executive directly owned 432,616 shares in the company, valued at $20,285,364.24. This trade represents a 18.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 125,000 shares of company stock worth $5,992,000 over the last three months. Insiders own 5.20% of the company’s stock.

IonQ Stock Up 1.3%

IONQ opened at $50.43 on Friday. The stock has a market capitalization of $17.52 billion, a price-to-earnings ratio of -9.43 and a beta of 2.63. IonQ, Inc. has a twelve month low of $17.88 and a twelve month high of $84.64. The company has a 50-day simple moving average of $49.82 and a 200 day simple moving average of $50.81.

IonQ (NYSE:IONQ) last issued its earnings results on Wednesday, November 5th. The company reported ($3.58) EPS for the quarter, missing the consensus estimate of ($0.44) by ($3.14). The firm had revenue of $39.87 million during 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 127.06%. IonQ’s quarterly revenue was up 221.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. Sell-side analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

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. 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.