Atria Wealth Solutions Inc. Acquires 2,883 Shares of IonQ, Inc. $IONQ

Atria Wealth Solutions Inc. raised its holdings in IonQ, Inc. (NYSE:IONQ) by 22.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,739 shares of the company’s stock after purchasing an additional 2,883 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in IonQ were worth $676,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in IonQ by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 21,497,964 shares of the company’s stock valued at $474,460,000 after purchasing an additional 123,839 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in IonQ by 101.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 927,760 shares of the company’s stock valued at $20,476,000 after purchasing an additional 467,084 shares during the last quarter. UNICOM Systems Inc. raised its position in IonQ by 77.4% in the 1st quarter. UNICOM Systems Inc. now owns 768,900 shares of the company’s stock valued at $16,970,000 after purchasing an additional 335,429 shares during the last quarter. Deutsche Bank AG raised its position in IonQ by 255.8% in the 1st quarter. Deutsche Bank AG now owns 761,066 shares of the company’s stock valued at $16,797,000 after purchasing an additional 547,155 shares during the last quarter. Finally, Nuveen LLC bought a new position in IonQ in the 1st quarter valued at $12,193,000. Institutional investors own 41.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. B. Riley lifted their target price on IonQ from $75.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Zacks Research cut IonQ from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Oppenheimer assumed coverage on IonQ in a research note on Wednesday, July 30th. They issued an “outperform” rating for the company. Wolfe Research assumed coverage on IonQ in a research note on Wednesday, July 30th. They issued a “peer perform” rating for the company. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $70.00 target price on shares of IonQ in a research note on Monday, September 15th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $58.33.

Insider Activity

In other news, insider Robert T. Cardillo sold 8,773 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $50.52, for a total value of $443,211.96. Following the sale, the insider directly owned 37,436 shares in the company, valued at $1,891,266.72. The trade was a 18.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Masi Niccolo De sold 16,120 shares of the business’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 $715,728.00. Following the completion of the sale, the chief executive officer owned 1,181,186 shares in the company, valued at approximately $52,444,658.40. This trade represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,876 shares of company stock valued at $7,930,390. Company insiders own 5.20% of the company’s stock.

IonQ Stock Down 3.9%

Shares of IonQ stock opened at $63.01 on Friday. The business has a fifty day simple moving average of $56.14 and a 200 day simple moving average of $43.29. The stock has a market cap of $18.70 billion, a PE ratio of -31.35 and a beta of 2.60. IonQ, Inc. has a 12 month low of $12.56 and a 12 month high of $84.64.

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