23,723 Shares in IonQ, Inc. $IONQ Purchased by CFO Capital Management LLC

CFO Capital Management LLC bought a new stake in IonQ, Inc. (NYSE:IONQ) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 23,723 shares of the company’s stock, valued at approximately $1,064,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IONQ. Lauer Wealth LLC raised its position 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 buying an additional 255 shares during the last quarter. Beaird Harris Wealth Management LLC raised its holdings in IonQ by 117.4% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock valued at $31,000 after acquiring an additional 270 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of IonQ by 50.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock worth $36,000 after purchasing an additional 279 shares during the period. Letson Investment Management Inc. boosted its holdings in shares of IonQ by 2.6% during the fourth quarter. Letson Investment Management Inc. now owns 12,619 shares of the company’s stock worth $566,000 after purchasing an additional 319 shares during the last quarter. Finally, Ameriflex Group Inc. boosted its holdings in shares of IonQ by 485.7% during the third quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock worth $25,000 after purchasing an additional 340 shares during the last quarter. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at IonQ

In other news, insider Robert T. Cardillo sold 3,773 shares of IonQ stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $49.90, for a total transaction of $188,272.70. Following the sale, the insider owned 139,967 shares in the company, valued at $6,984,353.30. This trade represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 target price on shares of IonQ in a research note on Thursday, June 11th. Northland Securities started coverage on IonQ in a report on Monday, April 20th. They issued an “outperform” rating and a $55.00 price target for the company. Morgan Stanley set a $48.50 price objective on shares of IonQ in a research note on Thursday, May 7th. Benchmark decreased their target price on shares of IonQ from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Finally, DA Davidson decreased their target price on shares of IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, February 26th. Ten investment 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. Based on data from MarketBeat.com, IonQ currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.62.

IonQ Price Performance

NYSE: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 firm has a market capitalization of $21.08 billion, a PE ratio of -201.71 and a beta of 3.18. IonQ, Inc. has a 12 month low of $25.89 and a 12 month high of $84.64.

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