IonQ, Inc. (NYSE:IONQ) Shares Bought by Verity Asset Management Inc.

Verity Asset Management Inc. grew its position in shares of IonQ, Inc. (NYSE:IONQ) by 12.4% during the 3rd quarter, Holdings Channel reports. The firm owned 33,898 shares of the company’s stock after purchasing an additional 3,736 shares during the period. Verity Asset Management Inc.’s holdings in IonQ were worth $296,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Oppenheimer & Co. Inc. increased its position in shares of IonQ by 4.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 36,495 shares of the company’s stock valued at $365,000 after purchasing an additional 1,400 shares during the period. Arizona State Retirement System grew its holdings in shares of IonQ by 3.6% in the 2nd quarter. Arizona State Retirement System now owns 49,550 shares of the company’s stock worth $348,000 after acquiring an additional 1,731 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of IonQ by 10.5% in the 1st quarter. ProShare Advisors LLC now owns 29,427 shares of the company’s stock worth $294,000 after acquiring an additional 2,805 shares during the last quarter. Quest Partners LLC grew its holdings in shares of IonQ by 4,824.2% in the 2nd quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock worth $46,000 after acquiring an additional 6,368 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of IonQ by 40.6% in the 2nd quarter. Principal Financial Group Inc. now owns 26,801 shares of the company’s stock worth $188,000 after acquiring an additional 7,744 shares during the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other IonQ news, CRO Rima Alameddine sold 9,875 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $11.72, for a total value of $115,735.00. Following the completion of the sale, the executive now owns 638,908 shares of the company’s stock, valued at $7,488,001.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 66,000 shares of company stock valued at $972,331 over the last quarter. Insiders own 11.60% of the company’s stock.

IonQ Trading Up 12.2 %

IONQ opened at $24.80 on Friday. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of -31.38 and a beta of 1.89. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $25.68. The stock has a fifty day moving average price of $10.78 and a 200 day moving average price of $8.89.

IonQ (NYSE:IONQ) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). IonQ had a negative return on equity of 34.02% and a negative net margin of 525.13%. The company had revenue of $12.40 million during the quarter, compared to analyst estimates of $10.56 million. During the same period in the prior year, the firm earned ($0.22) EPS. IonQ’s quarterly revenue was up 102.1% on a year-over-year basis. As a group, sell-side analysts forecast that IonQ, Inc. will post -0.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IONQ. Craig Hallum lifted their price target on IonQ from $15.00 to $22.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group lowered their price target on IonQ from $11.50 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Benchmark lifted their price target on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a report on Thursday. Finally, Needham & Company LLC lifted their price target on IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a report on Thursday.

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.