LMR Partners LLP Takes Position in IonQ, Inc. (NYSE:IONQ)

LMR Partners LLP bought a new position in shares of IonQ, Inc. (NYSE:IONQ) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 100,000 shares of the company’s stock, valued at approximately $874,000.

A number of other institutional investors and hedge funds have also bought and sold shares of IONQ. Quest Partners LLC grew its holdings in IonQ by 4,824.2% in the 2nd quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock valued at $46,000 after buying an additional 6,368 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new position in shares of IonQ in the second quarter valued at about $67,000. nVerses Capital LLC bought a new position in IonQ during the third quarter worth about $72,000. Mosley Wealth Management acquired a new stake in IonQ in the 2nd quarter worth about $81,000. Finally, Xponance Inc. bought a new stake in IonQ in the 2nd quarter valued at about $88,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Insiders Place Their Bets

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

IonQ Stock Up 10.5 %

NYSE IONQ opened at $27.88 on Wednesday. The company has a market cap of $6.03 billion, a price-to-earnings ratio of -34.42 and a beta of 1.89. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $29.48. The business’s fifty day moving average is $13.79 and its 200 day moving average is $9.87.

IonQ (NYSE:IONQ) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $12.40 million for the quarter, compared to the consensus estimate of $10.56 million. During the same quarter last year, the firm posted ($0.22) earnings per share. The business’s revenue for the quarter was up 102.1% on a year-over-year basis. On average, research analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Needham & Company LLC upped their target price on IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Benchmark upped their price objective on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Craig Hallum lifted their target price on IonQ from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group lowered 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.

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.