Rhumbline Advisers Increases Position in IonQ, Inc. $IONQ

Rhumbline Advisers raised its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 18.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 383,069 shares of the company’s stock after purchasing an additional 59,139 shares during the period. Rhumbline Advisers’ holdings in IonQ were worth $16,460,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Avantax Advisory Services Inc. grew its stake in shares of IonQ by 10.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 57,359 shares of the company’s stock worth $1,266,000 after buying an additional 5,336 shares during the last quarter. Cetera Investment Advisers boosted its holdings in IonQ by 7.0% in the first quarter. Cetera Investment Advisers now owns 36,417 shares of the company’s stock worth $804,000 after acquiring an additional 2,384 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in IonQ by 28.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,408 shares of the company’s stock worth $1,135,000 after acquiring an additional 11,398 shares in the last quarter. LPL Financial LLC grew its stake in shares of IonQ by 14.7% in the first quarter. LPL Financial LLC now owns 151,209 shares of the company’s stock worth $3,337,000 after acquiring an additional 19,363 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in shares of IonQ during the first quarter valued at $198,000. 41.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. B. Riley lifted their price target on IonQ from $75.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. DA Davidson raised their price objective on shares of IonQ from $35.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Morgan Stanley lifted their target price on shares of IonQ from $32.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 4th. Needham & Company LLC reiterated a “buy” rating and set a $80.00 price target on shares of IonQ in a report on Thursday, November 6th. Finally, Rosenblatt Securities raised their price target on shares of IonQ from $70.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $66.00.

IonQ Stock Performance

IONQ opened at $49.50 on Friday. The company’s 50-day simple moving average is $60.64 and its two-hundred day simple moving average is $48.83. The stock has a market capitalization of $17.20 billion, a P/E ratio of -9.25 and a beta of 2.59. IonQ, Inc. has a 52-week low of $17.88 and a 52-week high of $84.64.

IonQ (NYSE:IONQ) last released its quarterly earnings data 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). The company had revenue of $39.87 million for the quarter, compared to analysts’ expectations of $26.99 million. IonQ had a negative net margin of 1,836.32% and a negative return on equity of 127.06%. The firm’s revenue for the quarter was up 221.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.24) earnings per share. IonQ has set its FY 2025 guidance at EPS. Research analysts forecast that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Insider Buying and Selling at IonQ

In other news, Director William J. Teuber, Jr. acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was bought at an average price of $54.81 per share, with a total value of $109,620.00. Following the completion of the acquisition, the director directly owned 6,413 shares of the company’s stock, valued at approximately $351,496.53. The trade was a 45.32% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul T. Dacier sold 4,175 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total value of $185,370.00. Following the sale, the insider owned 114,454 shares of the company’s stock, valued at approximately $5,081,757.60. This trade represents a 3.52% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 213,622 shares of company stock worth $9,620,896. 5.20% of the stock is owned by corporate insiders.

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.