Stratos Wealth Partners LTD. Increases Stock Position in IonQ, Inc. $IONQ

Stratos Wealth Partners LTD. boosted its stake in IonQ, Inc. (NYSE:IONQ) by 1.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,118 shares of the company’s stock after purchasing an additional 378 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in IonQ were worth $907,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of IONQ. Nuveen LLC purchased a new stake in IonQ in the 1st quarter worth $12,193,000. Deutsche Bank AG lifted its stake in IonQ by 255.8% in the 1st quarter. Deutsche Bank AG now owns 761,066 shares of the company’s stock worth $16,797,000 after purchasing an additional 547,155 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake 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 worth $20,476,000 after purchasing an additional 467,084 shares in the last quarter. UNICOM Systems Inc. lifted its stake in IonQ by 77.4% in the 1st quarter. UNICOM Systems Inc. now owns 768,900 shares of the company’s stock worth $16,970,000 after purchasing an additional 335,429 shares in the last quarter. Finally, Quantitative Investment Management LLC purchased a new stake in IonQ in the 1st quarter worth $5,678,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Trading Down 0.6%

Shares of NYSE:IONQ opened at $59.57 on Wednesday. The company has a market capitalization of $17.68 billion, a price-to-earnings ratio of -29.64 and a beta of 2.60. IonQ, Inc. has a 12 month low of $13.89 and a 12 month high of $84.64. The firm’s 50-day moving average is $56.77 and its 200 day moving average is $43.81.

IonQ (NYSE:IONQ) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.57). The firm had revenue of $20.69 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 81.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.18) earnings per share. As a group, equities analysts forecast that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Needham & Company LLC upped their target price on shares of IonQ from $60.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Oppenheimer assumed coverage on shares of IonQ in a research report on Wednesday, July 30th. They set an “outperform” rating on the stock. Benchmark upped their target price on shares of IonQ from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Rosenblatt Securities restated a “buy” rating and set a $70.00 target price on shares of IonQ in a research report on Monday, September 15th. Finally, Cantor Fitzgerald upped their target price on shares of IonQ from $45.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. Seven research 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. According to data from MarketBeat, IonQ presently has a consensus rating of “Hold” and a consensus price target of $58.33.

Insider Activity at IonQ

In related news, insider Paul T. Dacier sold 4,175 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $44.40, for a total transaction of $185,370.00. Following the transaction, the insider directly owned 114,454 shares in the company, valued at approximately $5,081,757.60. This represents a 3.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas G. Kramer sold 64,578 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $41.82, for a total transaction of $2,700,651.96. Following the completion of the transaction, the chief financial officer owned 473,302 shares in the company, valued at $19,793,489.64. This represents a 12.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 131,398 shares of company stock worth $5,665,690 in the last three months. 5.20% of the stock is owned by 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.