Cookson Peirce & Co. Inc. Boosts Stock Holdings in IonQ, Inc. $IONQ

Cookson Peirce & Co. Inc. grew its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 18.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,447 shares of the company’s stock after purchasing an additional 18,862 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in IonQ were worth $6,415,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royal Bank of Canada grew its holdings in shares of IonQ by 12.5% during the first quarter. Royal Bank of Canada now owns 134,176 shares of the company’s stock worth $2,962,000 after purchasing an additional 14,898 shares in the last quarter. Amundi bought a new position in shares of IonQ in the first quarter worth approximately $630,000. AQR Capital Management LLC raised its stake in IonQ by 106.2% in the first quarter. AQR Capital Management LLC now owns 57,305 shares of the company’s stock valued at $1,265,000 after purchasing an additional 29,513 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in IonQ by 24.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 450,031 shares of the company’s stock valued at $9,932,000 after purchasing an additional 87,428 shares in the last quarter. Finally, Focus Partners Wealth lifted its position in IonQ by 30.3% during the first quarter. Focus Partners Wealth now owns 46,782 shares of the company’s stock valued at $1,032,000 after purchasing an additional 10,881 shares during the last quarter. Institutional investors own 41.42% of the company’s stock.

IonQ Stock Down 7.7%

NYSE:IONQ opened at $39.18 on Friday. The company has a fifty day moving average of $42.75 and a 200 day moving average of $43.36. IonQ, Inc. has a 52 week low of $25.89 and a 52 week high of $84.64. The firm has a market capitalization of $14.93 billion, a P/E ratio of -8.41 and a beta of 3.28.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.23. The firm had revenue of $80.05 million during the quarter, compared to the consensus estimate of $66.47 million. IonQ had a negative net margin of 553.27% and a negative return on equity of 22.29%. The company’s quarterly revenue was up 286.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.70) earnings per share. As a group, analysts anticipate that IonQ, Inc. will post -2.86 EPS for the current year.

Insider Buying and Selling at IonQ

In other news, Director Gabrielle B. Toledano sold 2,757 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $55.01, for a total transaction of $151,662.57. Following the transaction, the director directly owned 11,154 shares of the company’s stock, valued at approximately $613,581.54. The trade was a 19.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathryn K. Chou sold 2,757 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $55.02, for a total value of $151,690.14. Following the transaction, the director owned 62,608 shares of the company’s stock, valued at approximately $3,444,692.16. This represents a 4.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 9,329 shares of company stock valued at $513,216 in the last 90 days. Insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on IONQ shares. Jefferies Financial Group set a $75.00 price target on shares of IonQ in a research note on Thursday, August 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 target price on shares of IonQ in a research report on Thursday, August 6th. Benchmark reissued a “buy” rating and issued a $60.00 target price on shares of IonQ in a research note on Thursday, August 6th. Morgan Stanley set a $49.00 price target on IonQ in a research report on Thursday, August 6th. Finally, Northland Securities lifted their price target on IonQ from $55.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, June 22nd. Nine equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.92.

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. 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.