IonQ, Inc. (NYSE:IONQ) Shares Purchased by Virtu Financial LLC

Virtu Financial LLC increased its stake in shares of IonQ, Inc. (NYSE:IONQ) by 22.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,755 shares of the company’s stock after purchasing an additional 10,074 shares during the period. Virtu Financial LLC’s holdings in IonQ were worth $547,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. California State Teachers Retirement System grew its stake in IonQ by 6.9% in the 1st quarter. California State Teachers Retirement System now owns 172,959 shares of the company’s stock worth $1,728,000 after acquiring an additional 11,150 shares during the period. B. Riley Wealth Advisors Inc. grew its stake in IonQ by 234.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 41,375 shares of the company’s stock worth $413,000 after acquiring an additional 29,000 shares during the period. Oxford Wealth Group LLC purchased a new stake in shares of IonQ during the 1st quarter valued at $174,000. Bayesian Capital Management LP purchased a new stake in shares of IonQ during the 1st quarter valued at $226,000. Finally, Alpine Global Management LLC grew its stake in shares of IonQ by 300.0% during the 1st quarter. Alpine Global Management LLC now owns 56,004 shares of the company’s stock valued at $559,000 after buying an additional 42,003 shares during the period. 41.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of IonQ in a research note on Thursday, May 16th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.50.

IonQ Stock Down 5.9 %

Shares of NYSE IONQ traded down $0.44 during trading on Friday, hitting $7.08. 5,075,599 shares of the company traded hands, compared to its average volume of 5,773,801. IonQ, Inc. has a 1 year low of $6.33 and a 1 year high of $21.60. The company has a 50-day moving average price of $7.74 and a 200-day moving average price of $8.97. The firm has a market capitalization of $1.50 billion, a P/E ratio of -8.52 and a beta of 2.05.

IonQ (NYSE:IONQ) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. IonQ had a negative net margin of 671.00% and a negative return on equity of 31.76%. The firm had revenue of $7.58 million during the quarter, compared to analysts’ expectations of $7.08 million. During the same period in the prior year, the company earned ($0.14) EPS. The firm’s revenue was up 76.9% on a year-over-year basis. Research analysts predict that IonQ, Inc. will post -0.89 EPS for the current fiscal year.

Insider Activity

In related news, CRO Rima Alameddine sold 9,807 shares of IonQ stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $7.89, for a total transaction of $77,377.23. Following the sale, the executive now owns 687,840 shares of the company’s stock, valued at approximately $5,427,057.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Thomas G. Kramer sold 4,610 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $7.89, for a total transaction of $36,372.90. Following the completion of the transaction, the chief financial officer now directly owns 949,614 shares in the company, valued at approximately $7,492,454.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Rima Alameddine sold 9,807 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $7.89, for a total transaction of $77,377.23. Following the sale, the executive now directly owns 687,840 shares of the company’s stock, valued at approximately $5,427,057.60. The disclosure for this sale can be found here. Insiders have sold 20,353 shares of company stock worth $160,585 over the last 90 days. Company insiders own 11.60% of the company’s stock.

IonQ 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.