Rowlandmiller & PARTNERS.ADV Invests $114,000 in IonQ, Inc. $IONQ

Rowlandmiller & PARTNERS.ADV bought a new position in shares of IonQ, Inc. (NYSE:IONQ) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 2,650 shares of the company’s stock, valued at approximately $114,000.

Several other institutional investors also recently modified their holdings of IONQ. BNP Paribas Financial Markets acquired a new position in shares of IonQ during the 4th quarter worth about $1,545,000. Cetera Investment Advisers increased its stake in IonQ by 120.0% during the 4th quarter. Cetera Investment Advisers now owns 34,033 shares of the company’s stock worth $1,422,000 after purchasing an additional 18,566 shares in the last quarter. Deutsche Bank AG increased its stake in IonQ by 79.4% during the 4th quarter. Deutsche Bank AG now owns 213,911 shares of the company’s stock worth $8,935,000 after purchasing an additional 94,650 shares in the last quarter. Gotham Asset Management LLC bought a new stake in IonQ during the 4th quarter worth approximately $474,000. Finally, Janus Henderson Group PLC increased its stake in IonQ by 21.1% during the 4th quarter. Janus Henderson Group PLC now owns 85,941 shares of the company’s stock worth $3,588,000 after purchasing an additional 15,000 shares in the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at IonQ

In other news, Director Kathryn K. Chou sold 6,789 shares of the company’s stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $43.14, for a total transaction of $292,877.46. Following the sale, the director owned 60,839 shares in the company, valued at $2,624,594.46. This represents a 10.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Thomas G. Kramer sold 64,578 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $41.82, for a total value of $2,700,651.96. Following the sale, the chief financial officer owned 473,302 shares in the company, valued at approximately $19,793,489.64. This represents a 12.01% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,547,518 shares of company stock worth $254,180,433. Insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on IONQ. DA Davidson cut IonQ from a “buy” rating to a “neutral” rating and set a $35.00 target price for the company. in a research note on Thursday, August 7th. Needham & Company LLC reissued a “buy” rating on shares of IonQ in a research note on Monday, August 4th. Oppenheimer began coverage on IonQ in a research note on Wednesday, July 30th. They set an “outperform” rating for the company. B. Riley began coverage on IonQ in a research note on Wednesday, August 27th. They set a “buy” rating and a $61.00 target price for the company. Finally, Rosenblatt Securities began coverage on IonQ in a research note on Tuesday, July 29th. They set a “buy” rating and a $70.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.78.

IonQ Stock Up 18.4%

NYSE:IONQ opened at $55.72 on Friday. IonQ, Inc. has a twelve month low of $7.40 and a twelve month high of $56.07. The business has a 50 day moving average price of $42.33 and a two-hundred day moving average price of $35.02. The company has a market cap of $16.54 billion, a P/E ratio of -27.72 and a beta of 2.54.

IonQ (NYSE:IONQ) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.57). IonQ had a negative return on equity of 67.11% and a negative net margin of 885.21%.The firm had revenue of $20.69 million for the quarter, compared to analyst estimates of $17.23 million. During the same period last year, the company earned ($0.18) EPS. The company’s revenue was up 81.6% compared to the same quarter last year. As a group, analysts anticipate that IonQ, Inc. will post -0.86 earnings per share 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.