Penserra Capital Management LLC Purchases 313,008 Shares of IonQ, Inc. $IONQ

Penserra Capital Management LLC grew its position in IonQ, Inc. (NYSE:IONQ) by 64.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 800,141 shares of the company’s stock after buying an additional 313,008 shares during the period. Penserra Capital Management LLC owned 0.23% of IonQ worth $49,208,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Atlantic Union Bankshares Corp raised its stake in shares of IonQ by 109.4% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 1,914 shares of the company’s stock worth $118,000 after acquiring an additional 1,000 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in IonQ by 71.5% in the third quarter. Jones Financial Companies Lllp now owns 54,413 shares of the company’s stock valued at $3,661,000 after acquiring an additional 22,686 shares in the last quarter. Sentinel Trust Co. LBA grew its holdings in IonQ by 33.3% in the third quarter. Sentinel Trust Co. LBA now owns 40,000 shares of the company’s stock worth $2,460,000 after purchasing an additional 10,000 shares during the last quarter. Mutual Advisors LLC acquired a new position in shares of IonQ during the third quarter worth $202,000. Finally, Uptick Partners LLC increased its position in shares of IonQ by 5.8% during the third quarter. Uptick Partners LLC now owns 5,905 shares of the company’s stock worth $363,000 after purchasing an additional 326 shares in the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on IONQ shares. JPMorgan Chase & Co. began coverage on IonQ in a research report on Thursday, November 20th. They issued a “neutral” rating and a $47.00 price objective for the company. Morgan Stanley raised their price target on IonQ from $32.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 4th. Cantor Fitzgerald boosted their price target on IonQ from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Jefferies Financial Group assumed coverage on shares of IonQ in a research note on Tuesday, December 16th. They set a “buy” rating and a $100.00 price objective for the company. Finally, Zacks Research raised IonQ from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.91.

IonQ Stock Down 0.3%

Shares of IONQ stock opened at $38.45 on Wednesday. The stock has a market cap of $13.36 billion, a PE ratio of -7.19 and a beta of 2.63. IonQ, Inc. has a 52-week low of $17.88 and a 52-week high of $84.64. The business has a 50-day simple moving average of $48.21 and a 200-day simple moving average of $51.39.

IonQ (NYSE:IONQ) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $26.99 million. During the same period in the previous year, the firm posted ($0.24) earnings per share. The company’s revenue was up 221.5% compared to the same quarter last year. Sell-side analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IonQ news, CRO Rima Alameddine sold 100,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $46.89, for a total transaction of $4,689,000.00. Following the transaction, the executive owned 432,616 shares in the company, valued at approximately $20,285,364.24. This represents a 18.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathryn K. Chou sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $51.40, for a total value of $1,028,000.00. Following the completion of the sale, the director owned 60,839 shares of the company’s stock, valued at $3,127,124.60. This trade represents a 24.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 125,000 shares of company stock valued at $5,992,000. 5.20% of the stock is owned by company 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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.