Police & Firemen s Retirement System of New Jersey Purchases 9,656 Shares of IonQ, Inc. $IONQ

Police & Firemen s Retirement System of New Jersey grew its position in shares of IonQ, Inc. (NYSE:IONQ) by 21.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 53,715 shares of the company’s stock after buying an additional 9,656 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in IonQ were worth $2,308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Nisa Investment Advisors LLC increased its position in shares of IonQ by 4.7% during the second quarter. Nisa Investment Advisors LLC now owns 6,882 shares of the company’s stock valued at $296,000 after acquiring an additional 306 shares during the last quarter. Prospera Financial Services Inc grew its stake in IonQ by 0.8% in the 2nd quarter. Prospera Financial Services Inc now owns 42,286 shares of the company’s stock valued at $1,817,000 after purchasing an additional 320 shares during the period. Stratos Wealth Partners LTD. increased its position in shares of IonQ by 1.8% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 21,118 shares of the company’s stock valued at $907,000 after purchasing an additional 378 shares during the last quarter. Spire Wealth Management raised its stake in shares of IonQ by 58.0% during the 2nd quarter. Spire Wealth Management now owns 1,090 shares of the company’s stock worth $47,000 after purchasing an additional 400 shares during the period. Finally, Golden State Wealth Management LLC boosted its holdings in shares of IonQ by 61.9% in the 2nd quarter. Golden State Wealth Management LLC now owns 1,308 shares of the company’s stock worth $56,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on IONQ shares. Oppenheimer began coverage on shares of IonQ in a research report on Wednesday, July 30th. They issued an “outperform” rating on the stock. Benchmark lifted their price target on shares of IonQ from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. B. Riley increased their price objective on IonQ from $75.00 to $100.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Morgan Stanley boosted their target price on IonQ from $32.00 to $58.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Finally, Sanford C. Bernstein assumed coverage on IonQ in a research report on Wednesday, July 30th. They set a “market perform” rating on the stock. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $68.11.

IonQ Price Performance

Shares of IONQ stock opened at $47.89 on Thursday. The stock has a market capitalization of $16.64 billion, a price-to-earnings ratio of -8.95 and a beta of 2.59. The company’s fifty day simple moving average is $62.77 and its two-hundred day simple moving average is $48.22. IonQ, Inc. has a 1 year low of $17.88 and a 1 year high of $84.64.

IonQ (NYSE:IONQ) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($3.14). IonQ had a negative net margin of 1,836.32% and a negative return on equity of 127.06%. The company had revenue of $39.87 million during the quarter, compared to analysts’ expectations of $26.99 million. During the same quarter last year, the firm posted ($0.24) earnings per share. IonQ’s revenue for the quarter was up 221.5% compared to the same quarter last year. IonQ has set its FY 2025 guidance at EPS. Equities research analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current year.

Insider Buying and Selling at IonQ

In other news, insider Paul T. Dacier sold 4,175 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $44.40, for a total transaction of $185,370.00. Following the sale, the insider directly owned 114,454 shares in the company, valued at $5,081,757.60. This represents a 3.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CRO Rima Alameddine sold 19,976 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $44.40, for a total transaction of $886,934.40. Following the completion of the sale, the executive directly owned 532,616 shares in the company, valued at approximately $23,648,150.40. The trade was a 3.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 113,622 shares of company stock worth $4,931,896. 5.20% of the stock is owned by corporate insiders.

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.