Janney Montgomery Scott LLC Purchases 2,513 Shares of IonQ, Inc. $IONQ

Janney Montgomery Scott LLC boosted its stake in IonQ, Inc. (NYSE:IONQ) by 9.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,989 shares of the company’s stock after purchasing an additional 2,513 shares during the quarter. Janney Montgomery Scott LLC’s holdings in IonQ were worth $1,289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Avior Wealth Management LLC bought a new position in IonQ in the 2nd quarter worth about $217,000. Signaturefd LLC boosted its stake in IonQ by 22.4% in the 2nd quarter. Signaturefd LLC now owns 4,956 shares of the company’s stock worth $213,000 after purchasing an additional 908 shares during the period. Owen LaRue LLC bought a new position in IonQ in the 2nd quarter worth about $2,655,000. Perigon Wealth Management LLC boosted its stake in IonQ by 17.9% in the 2nd quarter. Perigon Wealth Management LLC now owns 12,581 shares of the company’s stock worth $541,000 after purchasing an additional 1,914 shares during the period. Finally, Kennedy Investment Group bought a new position in IonQ in the 2nd quarter worth about $353,000. Institutional investors own 41.42% of the company’s stock.

Analyst Upgrades and Downgrades

IONQ has been the subject of several analyst reports. Cantor Fitzgerald raised their target price on IonQ from $45.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, September 15th. B. Riley raised their target price on IonQ from $75.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. DA Davidson downgraded IonQ from a “buy” rating to a “neutral” rating and set a $35.00 target price for the company. in a research note on Thursday, August 7th. Needham & Company LLC lifted their price target on IonQ from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Finally, Oppenheimer started coverage on IonQ in a research report on Wednesday, July 30th. They set an “outperform” rating for the company. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $58.33.

IonQ Trading Down 8.5%

Shares of IONQ opened at $70.88 on Monday. The company has a market cap of $21.04 billion, a PE ratio of -35.26 and a beta of 2.60. The stock has a 50-day moving average price of $53.00 and a 200-day moving average price of $41.71. IonQ, Inc. has a 12-month low of $9.62 and a 12-month high of $82.97.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.57). The firm had revenue of $20.69 million for the quarter, compared to analysts’ expectations of $17.23 million. IonQ had a negative net margin of 885.21% and a negative return on equity of 67.11%. The business’s quarterly revenue was up 81.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.18) earnings per share. As a group, analysts predict that IonQ, Inc. will post -0.86 earnings per share for the current year.

Insider Activity at IonQ

In related news, insider Robert T. Cardillo sold 8,773 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $50.52, for a total transaction of $443,211.96. Following the transaction, the insider directly owned 37,436 shares of the company’s stock, valued at approximately $1,891,266.72. This trade represents a 18.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Rima Alameddine sold 19,976 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $44.40, for a total value of $886,934.40. Following the transaction, the executive directly owned 532,616 shares in the company, valued at approximately $23,648,150.40. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 178,876 shares of company stock worth $7,930,390 in the last quarter. 5.20% of the stock is owned by company insiders.

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.