ORG Wealth Partners LLC Grows Holdings in IonQ, Inc. $IONQ

ORG Wealth Partners LLC raised its position in IonQ, Inc. (NYSE:IONQ) by 4,625.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,713 shares of the company’s stock after buying an additional 30,063 shares during the period. ORG Wealth Partners LLC’s holdings in IonQ were worth $1,889,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its stake in shares of IonQ by 7.5% in the third quarter. Nisa Investment Advisors LLC now owns 7,400 shares of the company’s stock worth $455,000 after acquiring an additional 518 shares in the last quarter. StoneCrest Wealth Management Inc. acquired a new stake in IonQ during the 3rd quarter valued at approximately $743,000. Kingswood Wealth Advisors LLC increased its holdings in IonQ by 48.8% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 13,542 shares of the company’s stock worth $833,000 after purchasing an additional 4,440 shares during the last quarter. Strategic Planning Group LLC acquired a new position in shares of IonQ in the 3rd quarter valued at approximately $6,234,000. Finally, SLT Holdings LLC acquired a new position in shares of IonQ in the 3rd quarter valued at approximately $926,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of IonQ from $32.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 4th. Wedbush started coverage on shares of IonQ in a report on Wednesday, December 17th. They set an “outperform” rating and a $60.00 price objective for the company. Zacks Research raised shares of IonQ from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Rosenblatt Securities increased their price target on shares of IonQ from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price target on shares of IonQ in a research note on Thursday, November 6th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, IonQ currently has an average rating of “Moderate Buy” and a consensus price target of $75.91.

IonQ Stock Performance

NYSE IONQ opened at $49.39 on Friday. IonQ, Inc. has a one year low of $17.88 and a one year high of $84.64. The company has a 50-day simple moving average of $49.56 and a 200-day simple moving average of $50.87. The firm has a market capitalization of $17.16 billion, a PE ratio of -9.23 and a beta of 2.63.

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). IonQ had a negative return on equity of 127.06% and a negative net margin of 1,836.32%.The business had revenue of $39.87 million for the quarter, compared to analyst estimates of $26.99 million. During the same quarter last year, the company earned ($0.24) EPS. IonQ’s revenue was up 221.5% compared to the same quarter last year. Equities analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current year.

Insider Transactions at IonQ

In related news, Director William J. Teuber, Jr. acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was purchased at an average cost of $54.81 per share, for a total transaction of $109,620.00. Following the purchase, the director directly owned 6,413 shares in the company, valued at $351,496.53. This represents a 45.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Rima Alameddine sold 100,000 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $46.89, for a total value of $4,689,000.00. Following the completion of the sale, the executive directly owned 432,616 shares in the company, valued at $20,285,364.24. This represents a 18.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 125,000 shares of company stock worth $5,992,000. 5.20% of the stock is currently owned by company insiders.

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.