SLT Holdings LLC Makes New Investment in IonQ, Inc. $IONQ

SLT Holdings LLC bought a new position in IonQ, Inc. (NYSE:IONQ) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,060 shares of the company’s stock, valued at approximately $926,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Archer Investment Corp raised its holdings in IonQ by 119.3% during the second quarter. Archer Investment Corp now owns 592 shares of the company’s stock worth $25,000 after purchasing an additional 322 shares in the last quarter. Hilltop National Bank boosted its holdings in IonQ by 112.5% in the 3rd quarter. Hilltop National Bank now owns 425 shares of the company’s stock valued at $26,000 after purchasing an additional 225 shares in the last quarter. Financial Consulate Inc. acquired a new position in IonQ during the 3rd quarter worth approximately $29,000. EverSource Wealth Advisors LLC increased its position in IonQ by 50.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock worth $36,000 after purchasing an additional 279 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of IonQ during the 2nd quarter worth approximately $39,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Insider Buying and Selling

In related news, Director Kathryn K. Chou sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $51.40, for a total value of $1,028,000.00. Following the sale, the director owned 60,839 shares of the company’s stock, valued at approximately $3,127,124.60. This represents a 24.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Rima Alameddine sold 100,000 shares of the firm’s 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 transaction, 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. The disclosure for this sale is available in the SEC filing. Insiders sold 125,000 shares of company stock worth $5,992,000 in the last ninety days. Insiders own 5.20% of the company’s stock.

IonQ Trading Down 2.0%

Shares of NYSE IONQ opened at $49.73 on Thursday. The company’s 50-day moving average price is $50.02 and its 200 day moving average price is $50.82. IonQ, Inc. has a 52 week low of $17.88 and a 52 week high of $84.64. The stock has a market cap of $17.28 billion, a price-to-earnings ratio of -9.30 and a beta of 2.63.

IonQ (NYSE:IONQ) last announced its earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.14). The business had revenue of $39.87 million for the quarter, compared to analyst estimates of $26.99 million. IonQ had a negative return on equity of 127.06% and a negative net margin of 1,836.32%.The business’s revenue was up 221.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.24) EPS. As a group, research analysts expect that IonQ, Inc. will post -0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IONQ has been the topic of a number of analyst reports. Rosenblatt Securities lifted their price target on IonQ from $70.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. DA Davidson raised their target price on IonQ from $35.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. started coverage on shares of IonQ in a research report on Thursday, November 20th. They set a “neutral” rating and a $47.00 target price on the stock. Benchmark upped their price target on shares of IonQ from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Finally, Wedbush assumed coverage on shares of IonQ in a research note on Wednesday, December 17th. They issued an “outperform” rating and a $60.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, IonQ presently has an average rating of “Hold” and a consensus price target of $72.08.

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. 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.