Commonwealth Equity Services LLC Buys New Holdings in IonQ, Inc. (NYSE:IONQ)

Posted by Defense World Staff on Jun 6th, 2023

Commonwealth Equity Services LLC bought a new stake in IonQ, Inc. (NYSE:IONQ – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,053 shares of the company’s stock, valued at approximately $34,000.

A number of other large investors have also recently bought and sold shares of IONQ. MIC Capital Management UK LLP acquired a new position in IonQ in the third quarter valued at approximately $21,448,000. State Street Corp lifted its holdings in IonQ by 485.5% in the second quarter. State Street Corp now owns 2,197,266 shares of the company’s stock valued at $9,624,000 after acquiring an additional 1,821,999 shares during the period. JPMorgan Chase & Co. lifted its holdings in IonQ by 8,179.4% in the second quarter. JPMorgan Chase & Co. now owns 1,282,528 shares of the company’s stock valued at $5,617,000 after acquiring an additional 1,298,402 shares during the period. Teramo Advisors LLC acquired a new position in IonQ in the fourth quarter valued at approximately $3,752,000. Finally, Vanguard Group Inc. raised its stake in shares of IonQ by 8.2% during the 3rd quarter. Vanguard Group Inc. now owns 13,635,143 shares of the company’s stock worth $69,130,000 after buying an additional 1,037,433 shares during the period. Hedge funds and other institutional investors own 46.18% of the company’s stock.

Analyst Ratings Changes

IONQ has been the subject of several research analyst reports. Morgan Stanley initiated coverage on IonQ in a research note on Wednesday, April 26th. They set an “equal weight” rating and a $7.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $9.00 target price on shares of IonQ in a research note on Friday, March 31st. Finally, Benchmark reaffirmed a “buy” rating and set a $8.00 target price on shares of IonQ in a research note on Friday, March 31st.

IonQ Stock Performance

NYSE IONQ opened at $9.83 on Tuesday. The business has a fifty day moving average price of $7.27 and a 200 day moving average price of $5.47. IonQ, Inc. has a one year low of $3.04 and a one year high of $11.65. The company has a market cap of $1.98 billion, a P/E ratio of -27.31 and a beta of 1.87.

IonQ (NYSE:IONQ – Get Rating) last issued its earnings results on Thursday, March 30th. The company reported ($0.09) earnings per share (EPS) for the quarter. The company had revenue of $3.81 million during the quarter. IonQ had a negative net margin of 531.99% and a negative return on equity of 15.32%. As a group, sell-side analysts predict that IonQ, Inc. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at IonQ

In other IonQ news, insider Christopher Monroe sold 2,680 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $10.52, for a total value of $28,193.60. Following the completion of the sale, the insider now directly owns 4,056,254 shares in the company, valued at approximately $42,671,792.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CTO Jungsang Kim sold 4,417 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $10.52, for a total transaction of $46,466.84. Following the completion of the transaction, the chief technology officer now directly owns 6,583,761 shares in the company, valued at approximately $69,261,165.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher Monroe sold 2,680 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $10.52, for a total value of $28,193.60. Following the transaction, the insider now owns 4,056,254 shares of the company’s stock, valued at $42,671,792.08. The disclosure for this sale can be found here. Insiders sold a total of 231,630 shares of company stock worth $2,482,748 in the last three months. 14.10% of the stock is owned by corporate insiders.

IonQ Company Profile

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IonQ, Inc engages in the development of general-purpose quantum computing systems. It sells access to quantum computers with 20 qubits. 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.