Prospect Financial Services LLC Makes New Investment in IonQ, Inc. (NYSE:IONQ)

Prospect Financial Services LLC bought a new stake in IonQ, Inc. (NYSE:IONQ) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $124,000.

Other large investors have also modified their holdings of the company. FNY Investment Advisers LLC increased its stake in IonQ by 28.0% during the fourth quarter. FNY Investment Advisers LLC now owns 4,532 shares of the company’s stock valued at $56,000 after purchasing an additional 990 shares during the last quarter. C M Bidwell & Associates Ltd. raised its stake in IonQ by 61.2% during the third quarter. C M Bidwell & Associates Ltd. now owns 4,542 shares of the company’s stock worth $68,000 after acquiring an additional 1,724 shares during the period. National Bank of Canada FI lifted its holdings in IonQ by 26.1% in the fourth quarter. National Bank of Canada FI now owns 8,000 shares of the company’s stock worth $97,000 after acquiring an additional 1,655 shares during the last quarter. Keystone Financial Group acquired a new position in IonQ in the fourth quarter valued at approximately $136,000. Finally, Daymark Wealth Partners LLC bought a new position in shares of IonQ during the fourth quarter valued at approximately $149,000. Institutional investors own 41.42% of the company’s stock.

IonQ Stock Down 0.2 %

IonQ stock traded down $0.01 during mid-day trading on Friday, hitting $7.70. The company’s stock had a trading volume of 2,978,157 shares, compared to its average volume of 5,931,379. The stock has a market capitalization of $1.63 billion, a P/E ratio of -9.27 and a beta of 2.11. IonQ, Inc. has a twelve month low of $6.98 and a twelve month high of $21.60. The stock’s fifty day moving average price is $8.29 and its two-hundred day moving average price is $10.27.

IonQ (NYSE:IONQ) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. IonQ had a negative return on equity of 31.76% and a negative net margin of 671.00%. The firm had revenue of $7.58 million for the quarter, compared to analysts’ expectations of $7.08 million. During the same quarter last year, the business posted ($0.14) EPS. IonQ’s revenue was up 76.9% on a year-over-year basis. Equities analysts expect that IonQ, Inc. will post -0.89 earnings per share for the current year.

Insider Transactions at IonQ

In other news, CFO Thomas G. Kramer sold 4,610 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $7.89, for a total value of $36,372.90. Following the transaction, the chief financial officer now owns 949,614 shares in the company, valued at approximately $7,492,454.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Thomas G. Kramer sold 4,610 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $7.89, for a total transaction of $36,372.90. Following the transaction, the chief financial officer now directly owns 949,614 shares in the company, valued at approximately $7,492,454.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Peter Hume Chapman sold 5,936 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $7.89, for a total transaction of $46,835.04. Following the completion of the transaction, the chief executive officer now directly owns 445,297 shares in the company, valued at $3,513,393.33. The disclosure for this sale can be found here. Insiders sold a total of 20,353 shares of company stock valued at $160,585 over the last quarter. Company insiders own 11.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group dropped their price objective on shares of IonQ from $13.00 to $11.50 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price target on shares of IonQ in a report on Thursday, May 16th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.50.

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.