Owen LaRue LLC Buys 14,570 Shares of IonQ, Inc. $IONQ

Owen LaRue LLC grew its position in shares of IonQ, Inc. (NYSE:IONQ) by 23.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,364 shares of the company’s stock after buying an additional 14,570 shares during the period. IonQ makes up 1.8% of Owen LaRue LLC’s holdings, making the stock its 12th biggest position. Owen LaRue LLC’s holdings in IonQ were worth $4,696,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in shares of IonQ by 4.3% in the third quarter. International Assets Investment Management LLC now owns 5,679 shares of the company’s stock valued at $349,000 after acquiring an additional 235 shares in the last quarter. October Effect Ltd acquired a new stake in IonQ in the 3rd quarter worth about $1,353,000. Trek Financial LLC bought a new stake in IonQ in the 3rd quarter valued at about $1,766,000. PFG Investments LLC grew its position in shares of IonQ by 5.3% during the 3rd quarter. PFG Investments LLC now owns 6,892 shares of the company’s stock worth $424,000 after purchasing an additional 349 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its holdings in shares of IonQ by 109.3% during the third quarter. Y Intercept Hong Kong Ltd now owns 297,344 shares of the company’s stock worth $18,287,000 after purchasing an additional 155,294 shares during the period. Institutional investors own 41.42% of the company’s stock.

IonQ Stock Performance

IonQ stock opened at $47.32 on Friday. IonQ, Inc. has a 52 week low of $17.88 and a 52 week high of $84.64. The stock has a market capitalization of $16.44 billion, a P/E ratio of -8.84 and a beta of 2.63. The stock has a fifty day moving average of $48.74 and a 200-day moving average of $51.43.

IonQ (NYSE:IONQ) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($3.58) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($3.14). The business had revenue of $39.87 million during the quarter, compared to analyst estimates of $26.99 million. IonQ had a negative net margin of 1,836.32% and a negative return on equity of 127.06%. The business’s quarterly revenue was up 221.5% compared to the same quarter last year. During the same period last year, the business earned ($0.24) earnings per share. On average, research analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current year.

Insider Activity

In related news, Director William J. Teuber, Jr. purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were bought at an average cost of $54.81 per share, with a total value of $109,620.00. Following the acquisition, the director owned 6,413 shares of the company’s stock, valued at $351,496.53. This trade represents a 45.32% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kathryn K. Chou sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $55.00, for a total transaction of $275,000.00. Following the transaction, the director owned 60,839 shares of the company’s stock, valued at approximately $3,346,145. This represents a 7.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 125,000 shares of company stock worth $5,992,000. Corporate insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on IONQ. Morgan Stanley increased their price target on IonQ from $32.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Zacks Research raised IonQ from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Wedbush started coverage on IonQ in a research note on Wednesday, December 17th. They issued an “outperform” rating and a $60.00 price target for the company. DA Davidson upped their price objective on shares of IonQ from $35.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Finally, Mizuho initiated coverage on shares of IonQ in a report on Thursday, December 11th. They issued an “outperform” rating and a $90.00 target price on the stock. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.91.

IonQ 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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.