Cookson Peirce & Co. Inc. Purchases 18,124 Shares of IonQ, Inc. $IONQ

Cookson Peirce & Co. Inc. increased its position in shares of IonQ, Inc. (NYSE:IONQ) by 21.5% during the second quarter, HoldingsChannel reports. The fund owned 102,466 shares of the company’s stock after buying an additional 18,124 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in IonQ were worth $4,403,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stephens Inc. AR acquired a new position in shares of IonQ in the second quarter worth approximately $515,000. International Assets Investment Management LLC bought a new position in IonQ during the 2nd quarter worth approximately $234,000. Stratos Wealth Partners LTD. increased its position in shares of IonQ by 1.8% during the second quarter. Stratos Wealth Partners LTD. now owns 21,118 shares of the company’s stock worth $907,000 after buying an additional 378 shares during the period. Private Trust Co. NA bought a new position in IonQ during the second quarter worth $52,000. Finally, Praxis Investment Management Inc. acquired a new position in IonQ in the second quarter valued at $300,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on IONQ. Zacks Research lowered IonQ from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Oppenheimer assumed coverage on IonQ in a report on Wednesday, July 30th. They issued an “outperform” rating for the company. B. Riley lifted their target price on IonQ from $75.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Benchmark increased their price target on IonQ from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Finally, Wolfe Research initiated coverage on IonQ in a report on Wednesday, July 30th. They issued a “peer perform” rating on the stock. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $58.33.

IonQ Stock Performance

Shares of IONQ opened at $59.57 on Wednesday. IonQ, Inc. has a 52 week low of $13.89 and a 52 week high of $84.64. The stock has a 50 day moving average price of $56.77 and a two-hundred day moving average price of $43.81. The firm has a market capitalization of $17.68 billion, a P/E ratio of -29.64 and a beta of 2.60.

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

Insider Buying and Selling at IonQ

In other IonQ news, insider Paul T. Dacier sold 4,175 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was 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 trade represents a 3.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Rima Alameddine sold 19,976 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total value of $886,934.40. Following the completion of the transaction, the executive directly owned 532,616 shares of the company’s stock, valued at approximately $23,648,150.40. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 131,398 shares of company stock worth $5,665,690. 5.20% of the stock is currently owned by insiders.

About IonQ

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.