19,831 Shares of IonQ, Inc. $IONQ Purchased by Profund Advisors LLC

Profund Advisors LLC acquired a new stake in IonQ, Inc. (NYSE:IONQ) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 19,831 shares of the company’s stock, valued at approximately $870,000.

A number of other hedge funds have also made changes to their positions in the business. Bogart Wealth LLC lifted its stake in IonQ by 24.4% during the first quarter. Bogart Wealth LLC now owns 1,273 shares of the company’s stock worth $37,000 after purchasing an additional 250 shares during the last quarter. ABN Amro Investment Solutions boosted its holdings in IonQ by 2.5% in the first quarter. ABN Amro Investment Solutions now owns 12,314 shares of the company’s stock valued at $355,000 after purchasing an additional 295 shares in the last quarter. Versant Capital Management Inc increased its stake in IonQ by 26.1% in the second quarter. Versant Capital Management Inc now owns 1,491 shares of the company’s stock valued at $79,000 after purchasing an additional 309 shares during the last quarter. Root Financial Partners LLC increased its stake in IonQ by 22.9% in the first quarter. Root Financial Partners LLC now owns 1,725 shares of the company’s stock valued at $50,000 after purchasing an additional 321 shares during the last quarter. Finally, Lake Street Private Wealth LLC increased its stake in IonQ by 6.8% in the third quarter. Lake Street Private Wealth LLC now owns 5,446 shares of the company’s stock valued at $239,000 after purchasing an additional 346 shares during the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Insider Activity at IonQ

In related news, insider John Raymond sold 2,407 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $37.21, for a total value of $89,564.47. Following the completion of the sale, the insider owned 77,741 shares in the company, valued at $2,892,742.61. This trade represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is owned by company insiders.

IonQ Stock Up 6.8%

IONQ opened at $30.08 on Wednesday. The business has a 50 day moving average price of $37.64 and a two-hundred day moving average price of $41.88. IonQ, Inc. has a 52 week low of $25.89 and a 52 week high of $73.65.

IonQ (NYSE:IONQ) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.23. The firm had revenue of $80.05 million during the quarter, compared to analysts’ expectations of $66.47 million. IonQ had a negative net margin of 553.27% and a negative return on equity of 22.29%. The firm’s revenue for the quarter was up 286.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.70) earnings per share. As a group, equities analysts expect that IonQ, Inc. will post -2.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen cut shares of IonQ from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Rosenblatt Securities restated a “buy” rating and issued a $100.00 target price on shares of IonQ in a report on Tuesday, October 13th. Wedbush reaffirmed an “outperform” rating and issued a $75.00 target price on shares of IonQ in a research report on Tuesday, October 13th. Weiss Ratings downgraded shares of IonQ from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Finally, Benchmark reiterated a “buy” rating and set a $60.00 price target on shares of IonQ in a research note on Thursday, August 6th. Ten analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, IonQ currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.23.

Key Headlines Impacting IonQ

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: South Korea plans to integrate a national supercomputer with an IonQ quantum system, a development that could demonstrate a practical application for IonQ’s technology. South Korea to Integrate National Supercomputer with IonQ Quantum System
• Positive Sentiment: A recent report highlighted IonQ’s 287% second-quarter revenue growth and completion of its SkyWater Technology acquisition, which gives the company greater control over chip manufacturing. These developments support the company’s growth and execution story. 2 Unstoppable Quantum Computing Stocks to Buy Hand Over Fist Before the Next Rally
• Neutral Sentiment: B. Riley lowered its price target to $75 from $100 but maintained a Buy rating. The reduced target is a setback, though the firm still sees substantial potential upside from the share price cited in the report. Could IonQ Actually Climb 162%? Or Is B. Riley Totally Wrong?
• Negative Sentiment: IonQ shares were reported down 32% over the past month as quantum-computing stocks broadly sold off. Reports attribute pressure on the sector to weakness in technology shares and waning appetite for speculative growth investments, keeping near-term sentiment and valuation in focus. IonQ Just Dropped 32% In a Month: Is IONQ Stock Hopeless or Ready for a Rebound? Quantum Stocks Plunge in October: Can Q3 Earnings Halt the Slide?

IonQ Company Profile

IonQ, Inc (NYSE: IONQ) is a quantum computing company that develops full-stack quantum computing systems and related software. Its technology is based on trapped-ion quantum computing, which uses electrically charged atoms as qubits and is designed to support highly accurate quantum operations.

The company provides access to its quantum computers through cloud platforms and direct enterprise and research engagements. Its offerings include quantum computing hardware, cloud-based access, software tools, and professional services intended to help organizations explore applications in areas such as optimization, chemistry, materials science, artificial intelligence, and cybersecurity.