Corient Private Wealth LLC Has $2.76 Million Stock Holdings in IonQ, Inc. $IONQ

Corient Private Wealth LLC grew its position in IonQ, Inc. (NYSE:IONQ) by 29.5% in the fourth quarter, Holdings Channel reports. The fund owned 61,437 shares of the company’s stock after acquiring an additional 13,996 shares during the quarter. Corient Private Wealth LLC’s holdings in IonQ were worth $2,757,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Ameriflex Group Inc. boosted its stake in shares of IonQ by 485.7% during the third quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock valued at $25,000 after purchasing an additional 340 shares in the last quarter. Beaird Harris Wealth Management LLC increased its stake in shares of IonQ by 117.4% in the third quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock valued at $31,000 after buying an additional 270 shares during the period. Accent Capital Management LLC increased its stake in shares of IonQ by 171.8% in the fourth quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock valued at $26,000 after buying an additional 371 shares during the period. Kelleher Financial Advisors bought a new position in IonQ in the 3rd quarter valued at approximately $36,000. Finally, Fortitude Family Office LLC raised its holdings in IonQ by 3,800.0% in the 4th quarter. Fortitude Family Office LLC now owns 624 shares of the company’s stock valued at $28,000 after buying an additional 608 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

Key Stories Impacting IonQ

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: Recent articles highlight IonQ as a key beneficiary of Washington’s growing quantum-computing push, with federal support and strategic interest potentially boosting demand for the company’s technology. Washington’s Quantum Push Puts IBM and IonQ on the Throne (IONQ)
• Positive Sentiment: IonQ also drew attention for a new quantum security product, Clavis XG Multiplex, which could expand its addressable market in cybersecurity and metro fiber-network applications. IonQ Unveils New Quantum Security Solution as Cybersecurity Risks Grow
• Neutral Sentiment: IonQ is also seeing elevated investor and media attention, which can keep trading volume high and the stock volatile, even without a specific new catalyst. Investors Heavily Search IonQ, Inc. (IONQ): Here is What You Need to Know
• Neutral Sentiment: Multiple roundup and comparison pieces on quantum-computing stocks, including IonQ versus rivals, suggest investors remain focused on the sector’s long-term potential rather than any single near-term fundamental change. IonQ vs. Quantinuum: Which Quantum Computing Accuracy-Leading Stock Looks Like the Better Buy?
• Negative Sentiment: The stock recently suffered a sharper drop than the broader market, reinforcing concerns about valuation and ongoing volatility after a sizable one-day decline. IonQ, Inc. (IONQ) Suffers a Larger Drop Than the General Market: Key Insights

IonQ Price Performance

Shares of IonQ stock opened at $49.43 on Monday. The business has a 50-day simple moving average of $55.08 and a 200 day simple moving average of $45.04. IonQ, Inc. has a one year low of $25.89 and a one year high of $84.64. The firm has a market capitalization of $18.45 billion, a price-to-earnings ratio of -176.55 and a beta of 3.18.

IonQ (NYSE:IONQ) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $49.75 million. IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The business’s revenue for the quarter was up 754.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.14) EPS. On average, sell-side analysts expect that IonQ, Inc. will post -2.26 EPS for the current year.

Insider Activity

In other news, insider John W. Raymond sold 3,815 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 80,148 shares of the company’s stock, valued at $4,408,941.48. This represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gabrielle B. Toledano sold 2,757 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $55.01, for a total value of $151,662.57. Following the sale, the director directly owned 11,154 shares of the company’s stock, valued at approximately $613,581.54. This represents a 19.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 13,102 shares of company stock valued at $701,489 in the last three months. 0.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on IONQ shares. Northland Securities boosted their price objective on shares of IonQ from $55.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Jefferies Financial Group set a $85.00 target price on IonQ in a research report on Thursday, May 7th. Morgan Stanley set a $48.50 target price on IonQ in a report on Thursday, May 7th. Weiss Ratings upgraded IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen raised IonQ from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, IonQ presently has a consensus rating of “Moderate Buy” and an average 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.