Arete Wealth Advisors LLC Buys Shares of 10,390 IonQ, Inc. (NYSE:IONQ)

Arete Wealth Advisors LLC purchased a new position in shares of IonQ, Inc. (NYSE:IONQ) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,390 shares of the company’s stock, valued at approximately $91,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IONQ. Charles Schwab Investment Management Inc. boosted its stake in IonQ by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock worth $14,107,000 after buying an additional 135,851 shares during the period. Carnegie Investment Counsel acquired a new position in shares of IonQ in the 3rd quarter worth approximately $5,036,000. Yong Rong HK Asset Management Ltd purchased a new position in shares of IonQ during the 3rd quarter worth approximately $3,749,000. Rockefeller Capital Management L.P. increased its holdings in IonQ by 34.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company’s stock valued at $3,825,000 after purchasing an additional 111,435 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in IonQ in the third quarter valued at approximately $1,631,000. 41.42% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Thomas G. Kramer sold 9,780 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following the completion of the sale, the chief financial officer now owns 926,114 shares in the company, valued at $27,524,108.08. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Rima Alameddine sold 21,337 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $634,349.01. Following the sale, the executive now owns 571,321 shares of the company’s stock, valued at $16,985,373.33. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,223 shares of company stock worth $2,286,983 in the last 90 days. Corporate insiders own 11.60% of the company’s stock.

IonQ Trading Up 12.8 %

Shares of NYSE IONQ opened at $33.83 on Friday. The stock has a market cap of $7.32 billion, a P/E ratio of -41.77 and a beta of 2.49. The business’s fifty day simple moving average is $22.61 and its 200-day simple moving average is $12.88. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $38.45.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.02). IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The company had revenue of $12.40 million during the quarter, compared to analysts’ expectations of $10.56 million. During the same quarter in the previous year, the business posted ($0.22) EPS. The business’s quarterly revenue was up 102.1% compared to the same quarter last year. On average, equities analysts forecast that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.