Carnegie Investment Counsel Has $16.53 Million Stake in IonQ, Inc. $IONQ

Carnegie Investment Counsel reduced its stake in IonQ, Inc. (NYSE:IONQ) by 36.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 268,704 shares of the company’s stock after selling 155,878 shares during the quarter. Carnegie Investment Counsel’s holdings in IonQ were worth $16,525,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in shares of IonQ by 242.4% during the first quarter. Russell Investments Group Ltd. now owns 19,217 shares of the company’s stock worth $424,000 after buying an additional 13,604 shares during the period. Raymond James Financial Inc. lifted its stake in IonQ by 4.9% in the 1st quarter. Raymond James Financial Inc. now owns 270,378 shares of the company’s stock valued at $5,967,000 after acquiring an additional 12,577 shares in the last quarter. Wellington Management Group LLP acquired a new position in IonQ during the 1st quarter worth approximately $4,434,000. Kestra Advisory Services LLC grew its stake in shares of IonQ by 38.1% during the 1st quarter. Kestra Advisory Services LLC now owns 57,918 shares of the company’s stock worth $1,278,000 after acquiring an additional 15,986 shares in the last quarter. Finally, AlphaQuest LLC grew its stake in shares of IonQ by 25.5% during the 1st quarter. AlphaQuest LLC now owns 4,810 shares of the company’s stock worth $106,000 after acquiring an additional 977 shares in the last quarter. Institutional investors own 41.42% of the company’s stock.

IonQ Stock Performance

Shares of IONQ stock opened at $46.13 on Friday. IonQ, Inc. has a fifty-two week low of $17.88 and a fifty-two week high of $84.64. The stock’s fifty day moving average price is $52.00 and its two-hundred day moving average price is $50.30. The company has a market cap of $16.03 billion, a PE ratio of -8.62 and a beta of 2.62.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($3.58) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($3.14). The business had revenue of $39.87 million for the quarter, compared to the consensus estimate of $26.99 million. IonQ had a negative return on equity of 127.06% and a negative net margin of 1,836.32%.IonQ’s quarterly revenue was up 221.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.24) earnings per share. On average, equities analysts predict that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Insider Transactions at IonQ

In other news, Director Kathryn K. Chou sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $51.40, for a total value of $1,028,000.00. Following the sale, the director directly owned 60,839 shares in the company, valued at approximately $3,127,124.60. This trade represents a 24.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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. Over the last 90 days, insiders sold 125,000 shares of company stock valued at $5,992,000. 5.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on IONQ shares. Wedbush initiated coverage on shares of IonQ in a report on Wednesday, December 17th. They set an “outperform” rating and a $60.00 target price for the company. Cantor Fitzgerald increased their price objective on shares of IonQ from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. assumed coverage on IonQ in a report on Thursday, November 20th. They issued a “neutral” rating and a $47.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of IonQ in a report on Wednesday, October 8th. Finally, Mizuho assumed coverage on IonQ in a research report on Thursday, December 11th. They set an “outperform” rating and a $90.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $72.08.

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.