Xponance Inc. Has $347,000 Stake in IonQ, Inc. (NYSE:IONQ)

Xponance Inc. increased its stake in shares of IonQ, Inc. (NYSE:IONQ) by 6.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,741 shares of the company’s stock after acquiring an additional 935 shares during the period. Xponance Inc.’s holdings in IonQ were worth $347,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in IONQ. Mariner LLC increased its stake in IonQ by 0.6% in the 4th quarter. Mariner LLC now owns 54,479 shares of the company’s stock valued at $2,276,000 after buying an additional 350 shares during the last quarter. Future Financial Wealth Managment LLC increased its stake in IonQ by 50.0% in the 1st quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company’s stock valued at $33,000 after buying an additional 500 shares during the last quarter. Miracle Mile Advisors LLC increased its stake in IonQ by 2.5% in the 1st quarter. Miracle Mile Advisors LLC now owns 20,500 shares of the company’s stock valued at $452,000 after buying an additional 500 shares during the last quarter. Signaturefd LLC increased its stake in IonQ by 23.4% in the 4th quarter. Signaturefd LLC now owns 3,354 shares of the company’s stock valued at $140,000 after buying an additional 637 shares during the last quarter. Finally, Measured Risk Portfolios Inc. acquired a new stake in IonQ in the 4th quarter valued at $27,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on IONQ. Benchmark lifted their price target on shares of IonQ from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, July 7th. DA Davidson lowered their price target on shares of IonQ from $50.00 to $35.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 price target on shares of IonQ in a research note on Wednesday, June 11th. Cantor Fitzgerald initiated coverage on shares of IonQ in a research note on Wednesday, July 2nd. They issued an “overweight” rating and a $45.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on shares of IonQ from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.43.

IonQ Price Performance

IonQ stock opened at $46.48 on Friday. The firm has a market capitalization of $12.16 billion, a PE ratio of -31.19 and a beta of 2.55. The company’s 50-day moving average is $40.70 and its 200-day moving average is $34.10. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74.

IonQ (NYSE:IONQ) last announced its earnings results on Wednesday, May 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.14. The business had revenue of $7.57 million during the quarter, compared to the consensus estimate of $7.51 million. IonQ had a negative net margin of 753.20% and a negative return on equity of 63.35%. IonQ’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.19) EPS. As a group, analysts expect that IonQ, Inc. will post -0.86 EPS for the current year.

Insider Activity at IonQ

In related news, insider Peter Hume Chapman sold 1,497,311 shares of IonQ stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $39.93, for a total transaction of $59,787,628.23. Following the completion of the sale, the insider owned 390,329 shares of the company’s stock, valued at approximately $15,585,836.97. The trade was a 79.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Thomas G. Kramer sold 43,382 shares of IonQ stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $47.73, for a total transaction of $2,070,622.86. Following the sale, the chief financial officer directly owned 603,134 shares of the company’s stock, valued at $28,787,585.82. The trade was a 6.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,144,372 shares of company stock worth $358,255,229. 5.20% of the stock is currently owned by corporate insiders.

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.