Wolverine Asset Management LLC Buys 5,165 Shares of IonQ, Inc. $IONQ

Wolverine Asset Management LLC grew its stake in IonQ, Inc. (NYSE:IONQ) by 38.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,673 shares of the company’s stock after acquiring an additional 5,165 shares during the period. Wolverine Asset Management LLC’s holdings in IonQ were worth $802,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its stake in IonQ by 4.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,882 shares of the company’s stock worth $296,000 after acquiring an additional 306 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in IonQ by 1.8% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 21,118 shares of the company’s stock worth $907,000 after acquiring an additional 378 shares in the last quarter. Spire Wealth Management grew its stake in IonQ by 58.0% in the 2nd quarter. Spire Wealth Management now owns 1,090 shares of the company’s stock worth $47,000 after acquiring an additional 400 shares in the last quarter. Signaturefd LLC grew its stake in IonQ by 20.7% in the 1st quarter. Signaturefd LLC now owns 4,048 shares of the company’s stock worth $89,000 after acquiring an additional 694 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of IonQ by 33.7% during the first quarter. Allworth Financial LP now owns 3,682 shares of the company’s stock valued at $81,000 after purchasing an additional 929 shares in the last quarter. 41.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IONQ. Oppenheimer began coverage on shares of IonQ in a research note on Wednesday, July 30th. They set an “outperform” rating on the stock. Sanford C. Bernstein began coverage on shares of IonQ in a research note on Wednesday, July 30th. They set a “market perform” rating on the stock. DA Davidson downgraded shares of IonQ from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research note on Thursday, August 7th. Cantor Fitzgerald increased their price objective on shares of IonQ from $45.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, September 15th. Finally, B. Riley increased their price objective on shares of IonQ from $75.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, IonQ has a consensus rating of “Hold” and a consensus price target of $58.33.

Insiders Place Their Bets

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 shares were sold at an average price of $44.40, for a total value of $185,370.00. Following the completion of the transaction, the insider owned 114,454 shares of the company’s stock, valued at approximately $5,081,757.60. This trade represents a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Masi Niccolo De sold 16,120 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 $715,728.00. Following the completion of the transaction, the chief executive officer directly owned 1,181,186 shares of the company’s stock, valued at approximately $52,444,658.40. This represents a 1.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 131,398 shares of company stock valued at $5,665,690. Corporate insiders own 5.20% of the company’s stock.

IonQ Stock Up 3.6%

Shares of IONQ opened at $62.33 on Friday. The company has a market cap of $21.65 billion, a price-to-earnings ratio of -31.01 and a beta of 2.60. IonQ, Inc. has a twelve month low of $14.15 and a twelve month high of $84.64. The company has a 50 day moving average of $60.07 and a two-hundred day moving average of $45.93.

IonQ (NYSE:IONQ) last announced 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 firm had revenue of $20.69 million during the quarter, compared to analyst estimates of $17.23 million. IonQ had a negative net margin of 885.21% and a negative return on equity of 67.11%. IonQ’s revenue was up 81.6% on a year-over-year basis. During the same quarter last year, the business earned ($0.18) earnings per share. On average, sell-side analysts expect that IonQ, Inc. will post -0.86 EPS for the current 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.