Pure Financial Advisors LLC Invests $902,000 in IonQ, Inc. $IONQ

Pure Financial Advisors LLC acquired a new stake in IonQ, Inc. (NYSE:IONQ) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,672 shares of the company’s stock, valued at approximately $902,000.

A number of other institutional investors have also recently added to or reduced their stakes in IONQ. Oak Harvest Investment Services increased its holdings in IonQ by 50.0% in the third quarter. Oak Harvest Investment Services now owns 7,500 shares of the company’s stock valued at $461,000 after buying an additional 2,500 shares in the last quarter. Farmers & Merchants Investments Inc. purchased a new position in IonQ in the 3rd quarter valued at approximately $49,000. Sowell Financial Services LLC purchased a new position in IonQ in the 3rd quarter valued at approximately $732,000. Mayflower Financial Advisors LLC acquired a new position in IonQ during the third quarter worth $219,000. Finally, Apollon Wealth Management LLC purchased a new stake in IonQ during the third quarter worth $550,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Insiders Place Their Bets

In other news, CRO Rima Alameddine sold 100,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $46.89, for a total transaction of $4,689,000.00. Following the sale, the executive 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William J. Teuber, Jr. bought 2,000 shares of IonQ stock in a transaction that occurred on Tuesday, November 11th. The shares were acquired at an average price of $54.81 per share, for a total transaction of $109,620.00. Following the completion of the transaction, the director directly owned 6,413 shares of the company’s stock, valued at $351,496.53. This trade represents a 45.32% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 125,000 shares of company stock valued at $5,992,000 in the last quarter. 5.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $80.00 price target on shares of IonQ in a research report on Thursday, November 6th. Benchmark raised their target price on shares of IonQ from $55.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Jefferies Financial Group started coverage on shares of IonQ in a research report on Tuesday, December 16th. They set a “buy” rating and a $100.00 target price for the company. Zacks Research upgraded shares of IonQ from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of IonQ in a research note on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $72.08.

IonQ Trading Up 0.3%

NYSE:IONQ opened at $45.38 on Wednesday. IonQ, Inc. has a 12-month low of $17.88 and a 12-month high of $84.64. The firm has a market cap of $15.77 billion, a price-to-earnings ratio of -8.48 and a beta of 2.62. The company’s 50-day moving average is $51.43 and its two-hundred day moving average is $50.54.

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

IonQ Company 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.