7,167 Shares in IonQ, Inc. $IONQ Acquired by Journey Strategic Wealth LLC

Journey Strategic Wealth LLC acquired a new stake in IonQ, Inc. (NYSE:IONQ) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 7,167 shares of the company’s stock, valued at approximately $308,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in IONQ. Archer Investment Corp raised its position in shares of IonQ by 119.3% during the second quarter. Archer Investment Corp now owns 592 shares of the company’s stock worth $25,000 after acquiring an additional 322 shares during the last quarter. SVB Wealth LLC acquired a new stake in IonQ in the first quarter worth about $35,000. Atlantic Union Bankshares Corp bought a new stake in IonQ during the 2nd quarter worth about $39,000. TD Waterhouse Canada Inc. raised its holdings in IonQ by 28.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,008 shares of the company’s stock worth $40,000 after purchasing an additional 223 shares during the last quarter. Finally, Huntington National Bank lifted its position in IonQ by 2,034.0% during the 2nd quarter. Huntington National Bank now owns 1,003 shares of the company’s stock valued at $43,000 after purchasing an additional 956 shares during the period. 41.42% of the stock is owned by institutional investors and hedge funds.

IonQ Stock Up 1.8%

Shares of IONQ stock opened at $41.72 on Monday. IonQ, Inc. has a 12-month low of $17.88 and a 12-month high of $84.64. The firm has a market capitalization of $14.49 billion, a price-to-earnings ratio of -7.80 and a beta of 2.59. The firm has a fifty day moving average of $62.37 and a 200-day moving average of $48.52.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($3.58) EPS for the quarter, missing the consensus estimate of ($0.44) by ($3.14). The business had revenue of $39.87 million for the quarter, compared to analyst estimates of $26.99 million. IonQ had a negative return on equity of 127.06% and a negative net margin of 1,836.32%.The business’s quarterly revenue was up 221.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.24) EPS. IonQ has set its FY 2025 guidance at EPS. Research analysts expect that IonQ, Inc. will post -0.86 earnings per share for the current year.

Insider Activity at IonQ

In other IonQ news, CEO Masi Niccolo De sold 16,120 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total transaction of $715,728.00. Following the sale, the chief executive officer directly owned 1,181,186 shares in the company, valued at approximately $52,444,658.40. This trade represents a 1.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul T. Dacier sold 4,175 shares of IonQ stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total transaction of $185,370.00. Following the completion of the transaction, the insider directly owned 114,454 shares in the company, valued at approximately $5,081,757.60. The trade was a 3.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 213,622 shares of company stock valued at $9,620,896 over the last 90 days. Insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on IONQ. Morgan Stanley boosted their price target on shares of IonQ from $32.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 4th. Oppenheimer started coverage on shares of IonQ in a research report on Wednesday, July 30th. They set an “outperform” rating for the company. Rosenblatt Securities increased their price target on IonQ from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Cantor Fitzgerald lifted their price objective on IonQ from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Zacks Research raised IonQ from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $66.00.

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.