Fund Advisors of America Inc FL Makes New $463,000 Investment in IonQ, Inc. $IONQ

Fund Advisors of America Inc FL purchased a new position in shares of IonQ, Inc. (NYSE:IONQ) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 10,311 shares of the company’s stock, valued at approximately $463,000.

Several other institutional investors have also recently made changes to their positions in IONQ. Lauer Wealth LLC raised its holdings in shares of IonQ by 5.3% in the fourth quarter. Lauer Wealth LLC now owns 5,107 shares of the company’s stock valued at $229,000 after acquiring an additional 255 shares in the last quarter. Beaird Harris Wealth Management LLC grew its holdings in IonQ by 117.4% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock worth $31,000 after acquiring an additional 270 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in IonQ by 50.5% during 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 during the period. Letson Investment Management Inc. increased its position in IonQ by 2.6% during the 4th quarter. Letson Investment Management Inc. now owns 12,619 shares of the company’s stock valued at $566,000 after purchasing an additional 319 shares during the period. Finally, Ameriflex Group Inc. increased its position in IonQ by 485.7% during the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock valued at $25,000 after purchasing an additional 340 shares during the period. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Stock Performance

Shares of IONQ opened at $56.48 on Friday. The business’s 50-day moving average is $53.01 and its two-hundred day moving average is $44.97. The company has a market capitalization of $21.08 billion, a P/E ratio of -201.71 and a beta of 3.18. IonQ, Inc. has a fifty-two week low of $25.89 and a fifty-two week high of $84.64.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.08). IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The company had revenue of $64.67 million during the quarter, compared to analyst estimates of $49.75 million. During the same period last year, the firm earned ($0.14) EPS. The business’s quarterly revenue was up 754.7% compared to the same quarter last year. Analysts forecast that IonQ, Inc. will post -2.26 EPS for the current year.

Analyst Upgrades and Downgrades

IONQ has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on shares of IonQ from $42.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Benchmark cut their price objective on IonQ from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Wedbush reiterated an “outperform” rating and issued a $60.00 target price on shares of IonQ in a research report on Monday, May 4th. Northland Securities assumed coverage on shares of IonQ in a report on Monday, April 20th. They issued an “outperform” rating and a $55.00 price target on the stock. Finally, Morgan Stanley set a $48.50 price target on shares of IonQ in a research report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.62.

Insiders Place Their Bets

In other IonQ news, insider Robert T. Cardillo sold 3,773 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total value of $188,272.70. Following the completion of the transaction, the insider directly owned 139,967 shares of the company’s stock, valued at approximately $6,984,353.30. The trade was a 2.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.55% of the company’s stock.

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. 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.