Western Wealth Management LLC Purchases New Stake in IonQ, Inc. $IONQ

Western Wealth Management LLC purchased a new position in IonQ, Inc. (NYSE:IONQ) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,362 shares of the company’s stock, valued at approximately $316,000.

Other hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its holdings in shares of IonQ by 4.7% during the second quarter. Nisa Investment Advisors LLC now owns 6,882 shares of the company’s stock worth $296,000 after purchasing an additional 306 shares during the period. Prospera Financial Services Inc raised its position in IonQ by 0.8% during the 2nd quarter. Prospera Financial Services Inc now owns 42,286 shares of the company’s stock valued at $1,817,000 after purchasing an additional 320 shares during the last quarter. Good Life Advisors LLC lifted its holdings in IonQ by 2.0% in the 2nd quarter. Good Life Advisors LLC now owns 17,879 shares of the company’s stock worth $768,000 after buying an additional 348 shares during the period. Stratos Wealth Partners LTD. grew its position in shares of IonQ by 1.8% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 21,118 shares of the company’s stock worth $907,000 after buying an additional 378 shares during the last quarter. Finally, Spire Wealth Management increased its stake in shares of IonQ by 58.0% during the second quarter. Spire Wealth Management now owns 1,090 shares of the company’s stock valued at $47,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Stock Performance

Shares of IonQ stock opened at $49.26 on Wednesday. The company has a 50-day simple moving average of $62.69 and a two-hundred day simple moving average of $48.23. The stock has a market capitalization of $17.11 billion, a PE ratio of -9.21 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 (EPS) 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 during the quarter, compared to the consensus estimate of $26.99 million. During the same period last year, the company posted ($0.24) earnings per share. The business’s revenue was up 221.5% compared to the same quarter last year. IonQ has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on IONQ shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IonQ in a research note on Wednesday, October 8th. Benchmark raised their target price on shares of IonQ from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, September 16th. Morgan Stanley boosted their price target 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. Zacks Research raised shares of IonQ from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Rosenblatt Securities lifted their price objective on 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, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $68.11.

Insider Activity

In related news, insider Paul T. Dacier sold 4,175 shares of IonQ stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $44.40, for a total value of $185,370.00. Following the completion of the sale, the insider directly owned 114,454 shares in the company, valued at approximately $5,081,757.60. This trade represents a 3.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Rima Alameddine sold 19,976 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $44.40, for a total value of $886,934.40. Following the completion of the transaction, the executive directly owned 532,616 shares of the company’s stock, valued at approximately $23,648,150.40. This trade represents a 3.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 113,622 shares of company stock valued at $4,931,896. Corporate insiders own 5.20% of the company’s stock.

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.