10,250 Shares in IonQ, Inc. $IONQ Bought by GM Advisory Group LLC

GM Advisory Group LLC purchased a new stake in IonQ, Inc. (NYSE:IONQ) during the first quarter, Holdings Channel reports. The firm purchased 10,250 shares of the company’s stock, valued at approximately $296,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of IONQ. Ameriflex Group Inc. grew its holdings in IonQ by 485.7% in 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. Accent Capital Management LLC lifted its holdings in shares of IonQ by 171.8% during the 4th quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock valued at $26,000 after purchasing an additional 371 shares during the last quarter. Fortitude Family Office LLC boosted its position in shares of IonQ by 3,800.0% in the 4th quarter. Fortitude Family Office LLC now owns 624 shares of the company’s stock worth $28,000 after purchasing an additional 608 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its position in shares of IonQ by 117.4% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock worth $31,000 after purchasing an additional 270 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in 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 buying an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Price Performance

IONQ opened at $48.92 on Tuesday. The firm has a fifty day moving average price of $55.58 and a 200 day moving average price of $45.06. IonQ, Inc. has a 1 year low of $25.89 and a 1 year high of $84.64. The stock has a market cap of $18.26 billion, a P/E ratio of -174.71 and a beta of 3.23.

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

Insider Buying and Selling at IonQ

In other news, Director Gabrielle B. Toledano sold 2,757 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $55.01, for a total value of $151,662.57. Following the transaction, the director directly owned 11,154 shares of the company’s stock, valued at approximately $613,581.54. This trade represents a 19.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John W. Raymond sold 3,815 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $55.01, for a total value of $209,863.15. Following the transaction, the insider directly owned 80,148 shares in the company, valued at $4,408,941.48. This trade represents a 4.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 13,102 shares of company stock worth $701,489. Company insiders own 0.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on IONQ shares. Jefferies Financial Group set a $85.00 price objective on shares of IonQ in a report on Thursday, May 7th. Wall Street Zen raised shares of IonQ from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 13th. Northland Securities upped their price target on shares of IonQ from $55.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. Weiss Ratings raised shares of IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of IonQ from $42.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $69.88.

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.