Kingsview Wealth Management LLC Purchases Shares of 9,297 IonQ, Inc. $IONQ

Kingsview Wealth Management LLC purchased a new position in IonQ, Inc. (NYSE:IONQ) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,297 shares of the company’s stock, valued at approximately $399,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SVB Wealth LLC bought a new stake in shares of IonQ in the first quarter worth about $35,000. Atlantic Union Bankshares Corp purchased a new position in IonQ during the 2nd quarter valued at approximately $39,000. Huntington National Bank increased its stake in IonQ by 2,034.0% in the 2nd quarter. Huntington National Bank now owns 1,003 shares of the company’s stock worth $43,000 after acquiring an additional 956 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in IonQ in the 2nd quarter worth approximately $46,000. Finally, Spire Wealth Management raised its holdings in shares of IonQ by 58.0% during the 2nd quarter. Spire Wealth Management now owns 1,090 shares of the company’s stock worth $47,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 41.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IONQ shares. B. Riley increased their target price on IonQ from $75.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Oppenheimer assumed coverage on shares of IonQ in a research report on Wednesday, July 30th. They set an “outperform” rating for the company. Benchmark lifted their price objective on shares of IonQ from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. DA Davidson boosted their target price on shares of IonQ from $35.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Finally, Morgan Stanley upped their target price on shares of IonQ from $32.00 to $58.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 4th. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $66.00.

Insider Activity

In related news, CRO Rima Alameddine sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $46.89, for a total transaction of $4,689,000.00. Following the completion of the sale, the executive directly owned 432,616 shares of the company’s stock, valued at approximately $20,285,364.24. This trade represents a 18.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William J. Teuber, Jr. acquired 2,000 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was acquired at an average cost of $54.81 per share, for a total transaction of $109,620.00. Following the transaction, the director directly owned 6,413 shares in the company, valued at $351,496.53. The trade was a 45.32% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 213,622 shares of company stock worth $9,620,896 in the last three months. Corporate insiders own 5.20% of the company’s stock.

IonQ Trading Up 1.8%

Shares of NYSE:IONQ opened at $41.72 on Friday. The company has a market capitalization of $14.49 billion, a price-to-earnings ratio of -7.80 and a beta of 2.59. IonQ, Inc. has a 12 month low of $17.88 and a 12 month high of $84.64. The firm’s 50-day moving average is $62.37 and its 200 day moving average is $48.26.

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

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.