Wealthcare Advisory Partners LLC Makes New $302,000 Investment in IonQ, Inc. $IONQ

Wealthcare Advisory Partners LLC bought a new position in shares of IonQ, Inc. (NYSE:IONQ) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,031 shares of the company’s stock, valued at approximately $302,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. 111 Capital bought a new position in IonQ during the second quarter worth about $322,000. QRG Capital Management Inc. bought a new stake in shares of IonQ in the second quarter valued at about $433,000. Ameritas Advisory Services LLC bought a new stake in IonQ during the second quarter worth about $46,000. Patriot Financial Group Insurance Agency LLC bought a new stake in IonQ during the second quarter worth about $1,320,000. Finally, McGuire Investment Group LLC raised its holdings in IonQ by 136.8% during the second quarter. McGuire Investment Group LLC now owns 165,716 shares of the company’s stock worth $7,121,000 after acquiring an additional 95,723 shares in the last quarter. 41.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on IONQ. Oppenheimer began coverage on IonQ in a report on Wednesday, July 30th. They set an “outperform” rating on the stock. Cantor Fitzgerald boosted their price target on IonQ from $45.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, September 15th. Zacks Research downgraded IonQ from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Wolfe Research started coverage on IonQ in a research report on Wednesday, July 30th. They set a “peer perform” rating on the stock. Finally, Benchmark upped their target price on IonQ from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, September 16th. Seven equities research 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $58.33.

IonQ Stock Down 8.5%

Shares of NYSE:IONQ opened at $70.88 on Friday. The firm has a market cap of $21.04 billion, a P/E ratio of -35.26 and a beta of 2.60. IonQ, Inc. has a 12-month low of $9.62 and a 12-month high of $82.97. The business has a fifty day simple moving average of $53.00 and a 200 day simple moving average of $41.47.

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 the consensus estimate of $17.23 million. IonQ had a negative return on equity of 67.11% and a negative net margin of 885.21%.The firm’s revenue for the quarter was up 81.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.18) earnings per share. As a group, equities research analysts expect that IonQ, Inc. will post -0.86 EPS for the current year.

Insider Transactions at IonQ

In other news, insider Robert T. Cardillo sold 8,773 shares of IonQ stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $50.52, for a total value of $443,211.96. Following the completion of the transaction, the insider directly owned 37,436 shares of the company’s stock, valued at approximately $1,891,266.72. This trade represents a 18.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Masi Niccolo De sold 16,120 shares of IonQ stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $44.40, for a total value 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 trade represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,876 shares of company stock worth $7,930,390. Corporate insiders own 5.20% of the company’s stock.

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.