ORG Wealth Partners LLC Increases Position in IonQ, Inc. $IONQ

ORG Wealth Partners LLC increased its position in shares of IonQ, Inc. (NYSE:IONQ) by 4,625.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,713 shares of the company’s stock after acquiring an additional 30,063 shares during the quarter. ORG Wealth Partners LLC’s holdings in IonQ were worth $1,889,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. TD Waterhouse Canada Inc. boosted its holdings in shares of IonQ by 28.4% during the second 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. Hilltop National Bank increased its stake in IonQ by 112.5% in the third quarter. Hilltop National Bank now owns 425 shares of the company’s stock valued at $26,000 after purchasing an additional 225 shares during the last quarter. Lauer Wealth LLC lifted its position in IonQ by 5.5% during the third quarter. Lauer Wealth LLC now owns 4,852 shares of the company’s stock worth $298,000 after buying an additional 255 shares during the period. GAMMA Investing LLC boosted its stake in IonQ by 11.8% in the 3rd quarter. GAMMA Investing LLC now owns 2,480 shares of the company’s stock worth $153,000 after buying an additional 261 shares during the last quarter. Finally, CoreCap Advisors LLC boosted its stake in IonQ by 8.4% in the 3rd quarter. CoreCap Advisors LLC now owns 3,527 shares of the company’s stock worth $217,000 after buying an additional 274 shares during the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IONQ has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of IonQ in a research note on Tuesday, December 16th. They set a “buy” rating and a $100.00 price objective for the company. Zacks Research raised shares of IonQ from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Mizuho began coverage on shares of IonQ in a research note on Thursday, December 11th. They set an “outperform” rating and a $90.00 price target on the stock. Morgan Stanley boosted their price objective on shares of IonQ from $32.00 to $58.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $80.00 price objective on shares of IonQ in a report on Thursday, November 6th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, IonQ has a consensus rating of “Moderate Buy” and an average target price of $75.91.

Insider Transactions at IonQ

In related news, Director William J. Teuber, Jr. purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was purchased at an average price of $54.81 per share, for a total transaction of $109,620.00. Following the acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathryn K. Chou sold 5,000 shares of the stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $55.00, for a total transaction of $275,000.00. Following the completion of the sale, the director directly owned 60,839 shares of the company’s stock, valued at $3,346,145. This trade represents a 7.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 125,000 shares of company stock valued at $5,992,000 over the last quarter. Company insiders own 5.20% of the company’s stock.

IonQ Stock Down 2.1%

IonQ stock opened at $49.39 on Friday. The firm has a fifty day moving average of $49.56 and a 200-day moving average of $50.87. IonQ, Inc. has a 52-week low of $17.88 and a 52-week high of $84.64. The firm has a market capitalization of $17.16 billion, a P/E ratio of -9.23 and a beta of 2.63.

IonQ (NYSE:IONQ) last posted its earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($3.14). IonQ had a negative net margin of 1,836.32% and a negative return on equity of 127.06%. The business had revenue of $39.87 million for the quarter, compared to analyst estimates of $26.99 million. During the same quarter in the previous year, the firm posted ($0.24) EPS. The business’s revenue was up 221.5% compared to the same quarter last year. On average, research analysts expect 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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.