Fmr LLC Purchases 41,125 Shares of IonQ, Inc. (NYSE:IONQ)

Fmr LLC grew its position in shares of IonQ, Inc. (NYSE:IONQ) by 7.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 612,625 shares of the company’s stock after buying an additional 41,125 shares during the period. Fmr LLC owned 0.29% of IonQ worth $5,354,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Quest Partners LLC increased 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 purchasing an additional 6,368 shares during the last quarter. Redwood Wealth Management Group LLC bought a new position in shares of IonQ in the 2nd quarter worth $67,000. nVerses Capital LLC purchased a new stake in shares of IonQ during the 3rd quarter valued at $72,000. Mosley Wealth Management bought a new stake in shares of IonQ during the 2nd quarter worth $81,000. Finally, Xponance Inc. purchased a new position in IonQ in the second quarter worth $88,000. Institutional investors own 41.42% of the company’s stock.

Insider Buying and Selling at IonQ

In other IonQ news, CRO Rima Alameddine sold 22,875 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $17.75, for a total value of $406,031.25. Following the sale, the executive now owns 592,658 shares of the company’s stock, valued at $10,519,679.50. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 66,000 shares of company stock valued at $972,331 over the last 90 days. 11.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on IONQ. Needham & Company LLC increased their price target on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Craig Hallum increased their target price on shares of IonQ from $15.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Benchmark lifted their target price on shares of IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

IonQ Price Performance

Shares of IonQ stock opened at $29.99 on Friday. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $38.45. The company’s fifty day simple moving average is $21.70 and its 200-day simple moving average is $12.55. The stock has a market capitalization of $6.49 billion, a PE ratio of -37.02 and a beta of 2.47.

IonQ (NYSE:IONQ) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The business had revenue of $12.40 million during the quarter, compared to the consensus estimate of $10.56 million. During the same period last year, the company earned ($0.22) EPS. The business’s revenue was up 102.1% on a year-over-year basis. As a group, research analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current 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.