Good Life Advisors LLC Makes New $250,000 Investment in IonQ, Inc. (NYSE:IONQ)

Good Life Advisors LLC purchased a new position in IonQ, Inc. (NYSE:IONQ) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 28,640 shares of the company’s stock, valued at approximately $250,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Oppenheimer & Co. Inc. lifted its position in shares of IonQ by 4.0% in the first quarter. Oppenheimer & Co. Inc. now owns 36,495 shares of the company’s stock worth $365,000 after buying an additional 1,400 shares during the last quarter. Arizona State Retirement System lifted its position in shares of IonQ by 3.6% in the second quarter. Arizona State Retirement System now owns 49,550 shares of the company’s stock worth $348,000 after buying an additional 1,731 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of IonQ by 10.5% in the first quarter. ProShare Advisors LLC now owns 29,427 shares of the company’s stock worth $294,000 after buying an additional 2,805 shares during the last quarter. Quest Partners LLC lifted its position in shares of IonQ by 4,824.2% in the second quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock worth $46,000 after buying an additional 6,368 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of IonQ by 40.6% during the 2nd quarter. Principal Financial Group Inc. now owns 26,801 shares of the company’s stock worth $188,000 after purchasing an additional 7,744 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In related 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 sale, the executive now directly owns 627,533 shares in the company, valued at $8,609,752.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 31,125 shares of company stock worth $377,660. Company insiders own 11.60% of the company’s stock.

IonQ Stock Up 6.4 %

IonQ stock opened at $13.30 on Monday. The business has a 50 day moving average price of $8.29 and a two-hundred day moving average price of $8.09. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -16.02 and a beta of 2.05. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $15.49.

IonQ (NYSE:IONQ) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.04. IonQ had a negative return on equity of 34.02% and a negative net margin of 525.13%. The company had revenue of $11.38 million for the quarter, compared to analyst estimates of $8.66 million. During the same period in the prior year, the company posted ($0.16) EPS. The company’s revenue was up 106.4% compared to the same quarter last year. On average, analysts expect that IonQ, Inc. will post -0.84 earnings per share for the current fiscal year.

IonQ Company 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.