Rakuten Securities Inc. Has $3.41 Million Position in IonQ, Inc. $IONQ

Rakuten Securities Inc. lessened its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 52.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 55,370 shares of the company’s stock after selling 61,460 shares during the period. IonQ comprises 1.3% of Rakuten Securities Inc.’s portfolio, making the stock its 16th largest holding. Rakuten Securities Inc.’s holdings in IonQ were worth $3,405,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in IONQ. Stone House Investment Management LLC lifted its position in IonQ by 700.0% during the 3rd quarter. Stone House Investment Management LLC now owns 400 shares of the company’s stock worth $25,000 after buying an additional 350 shares in the last quarter. Hilltop National Bank raised its stake in shares of IonQ by 112.5% in the third quarter. Hilltop National Bank now owns 425 shares of the company’s stock worth $26,000 after acquiring an additional 225 shares during the last quarter. Financial Consulate Inc. acquired a new position in shares of IonQ during the third quarter worth approximately $29,000. Archer Investment Corp grew its stake in shares of IonQ by 119.3% during the second quarter. Archer Investment Corp now owns 592 shares of the company’s stock valued at $25,000 after purchasing an additional 322 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. bought a new stake in shares of IonQ during the third quarter valued at approximately $49,000. 41.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on IONQ shares. DA Davidson boosted 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. Weiss Ratings restated a “sell (d-)” rating on shares of IonQ in a research report on Wednesday, October 8th. Cantor Fitzgerald upped their price target on IonQ from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Jefferies Financial Group assumed coverage on IonQ in a research report on Tuesday, December 16th. They issued a “buy” rating and a $100.00 price objective for the company. Finally, Mizuho assumed coverage on IonQ in a report on Thursday, December 11th. They set an “outperform” rating and a $90.00 price objective for the company. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.91.

IonQ Stock Up 3.7%

Shares of IonQ stock opened at $50.74 on Thursday. The business has a fifty day simple moving average of $49.24 and a 200 day simple moving average of $51.16. The stock has a market cap of $17.63 billion, a PE ratio of -9.48 and a beta of 2.63. IonQ, Inc. has a 12 month low of $17.88 and a 12 month high of $84.64.

IonQ (NYSE:IONQ) last released its earnings results 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 company 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 company’s quarterly revenue was up 221.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.24) EPS. Analysts expect that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Insider Activity at IonQ

In other news, Director William J. Teuber, Jr. acquired 2,000 shares of IonQ stock in a transaction that occurred on Tuesday, November 11th. The shares were acquired at an average price of $54.81 per share, with a total value of $109,620.00. Following the purchase, the director directly owned 6,413 shares of the company’s stock, valued at $351,496.53. The trade was a 45.32% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Rima Alameddine sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $46.89, for a total transaction of $4,689,000.00. Following the completion of the sale, the executive directly owned 432,616 shares of the company’s stock, valued at $20,285,364.24. The trade was a 18.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 125,000 shares of company stock worth $5,992,000 in the last ninety days. Company insiders own 5.20% of the company’s stock.

About IonQ

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.