nVerses Capital LLC Buys New Shares in IonQ, Inc. (NYSE:IONQ)

nVerses Capital LLC purchased a new position in shares of IonQ, Inc. (NYSE:IONQ) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,200 shares of the company’s stock, valued at approximately $72,000.

A number of other hedge funds also recently bought and sold shares of IONQ. Vontobel Holding Ltd. increased its stake in shares of IonQ by 49.5% during the third quarter. Vontobel Holding Ltd. now owns 42,562 shares of the company’s stock worth $372,000 after buying an additional 14,095 shares during the period. Creative Planning increased its position in shares of IonQ by 47.8% in the 3rd quarter. Creative Planning now owns 24,364 shares of the company’s stock valued at $213,000 after purchasing an additional 7,878 shares during the last quarter. Carnegie Investment Counsel acquired a new stake in shares of IonQ in the 3rd quarter valued at $5,036,000. Sovereign Financial Group Inc. purchased a new stake in shares of IonQ during the 3rd quarter worth $266,000. Finally, Handelsbanken Fonder AB grew its stake in shares of IonQ by 33.1% during the third quarter. Handelsbanken Fonder AB now owns 69,200 shares of the company’s stock worth $605,000 after purchasing an additional 17,200 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on IONQ. Craig Hallum decreased their price target on IonQ from $21.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. The Goldman Sachs Group decreased their target price on IonQ from $11.50 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price target on shares of IonQ in a research note on Wednesday, October 2nd. Finally, Benchmark reduced their price objective on shares of IonQ from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.00.

IonQ Trading Up 11.1 %

Shares of NYSE IONQ opened at $14.77 on Tuesday. The stock has a market cap of $3.12 billion, a P/E ratio of -17.80 and a beta of 2.05. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $15.49. The stock has a 50 day moving average of $8.45 and a two-hundred day moving average of $8.13.

IonQ (NYSE:IONQ) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. IonQ had a negative net margin of 525.13% and a negative return on equity of 34.02%. The firm had revenue of $11.38 million during the quarter, compared to analysts’ expectations of $8.66 million. During the same quarter in the prior year, the business earned ($0.16) EPS. IonQ’s quarterly revenue was up 106.4% compared to the same quarter last year. As a group, research analysts predict that IonQ, Inc. will post -0.84 earnings per share for the current year.

Insider Buying and Selling

In other IonQ news, CRO Rima Alameddine sold 11,375 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $13.72, for a total transaction of $156,065.00. Following the completion of the sale, the executive now directly owns 627,533 shares of the company’s stock, valued at approximately $8,609,752.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 31,125 shares of company stock valued at $377,660 over the last quarter. 11.60% of the stock is currently owned by 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.