Y Intercept Hong Kong Ltd Increases Stock Position in IonQ, Inc. $IONQ

Y Intercept Hong Kong Ltd boosted its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 109.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 297,344 shares of the company’s stock after buying an additional 155,294 shares during the quarter. IonQ makes up approximately 0.4% of Y Intercept Hong Kong Ltd’s investment portfolio, making the stock its 18th biggest holding. Y Intercept Hong Kong Ltd owned about 0.09% of IonQ worth $18,287,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of IONQ. Archer Investment Corp raised its position in shares of IonQ by 119.3% in the 2nd quarter. Archer Investment Corp now owns 592 shares of the company’s stock worth $25,000 after acquiring an additional 322 shares in the last quarter. Stone House Investment Management LLC grew its stake in IonQ by 700.0% in the third quarter. Stone House Investment Management LLC now owns 400 shares of the company’s stock valued at $25,000 after purchasing an additional 350 shares during the last quarter. Hilltop National Bank grew its stake in IonQ by 112.5% in the third quarter. Hilltop National Bank now owns 425 shares of the company’s stock valued at $26,000 after purchasing an additional 225 shares during the last quarter. Financial Consulate Inc. bought a new position in IonQ in the third quarter worth about $29,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of IonQ by 50.5% during the second quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock valued at $36,000 after buying an additional 279 shares during the last quarter. Institutional investors own 41.42% of the company’s stock.

Analyst Ratings Changes

IONQ has been the topic of a number of analyst reports. Mizuho assumed coverage on shares of IonQ in a research report on Thursday, December 11th. They issued an “outperform” rating and a $90.00 price objective on the stock. Jefferies Financial Group assumed coverage on shares of IonQ in a research note on Tuesday, December 16th. They issued a “buy” rating and a $100.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of IonQ in a report on Thursday, November 20th. They issued a “neutral” rating and a $47.00 price target on the stock. Morgan Stanley increased their price objective on IonQ from $32.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, November 4th. Finally, Rosenblatt Securities raised their price objective on IonQ from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Nine 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $75.91.

Insiders Place Their Bets

In other news, Director William J. Teuber, Jr. purchased 2,000 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were acquired at an average price of $54.81 per share, for a total transaction of $109,620.00. Following the purchase, the director owned 6,413 shares in the company, valued at $351,496.53. This trade represents a 45.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathryn K. Chou sold 5,000 shares of the firm’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the completion of the transaction, the director owned 60,839 shares of the company’s stock, valued at approximately $3,346,145. The trade was a 7.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 125,000 shares of company stock valued at $5,992,000. 5.20% of the stock is owned by company insiders.

IonQ Trading Down 4.1%

Shares of IonQ stock opened at $47.32 on Friday. IonQ, Inc. has a 12-month low of $17.88 and a 12-month high of $84.64. The firm has a market capitalization of $16.44 billion, a price-to-earnings ratio of -8.84 and a beta of 2.63. The firm’s 50 day simple moving average is $48.74 and its two-hundred day simple moving average is $51.38.

IonQ (NYSE:IONQ) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($3.58) EPS for the quarter, missing the consensus estimate of ($0.44) by ($3.14). The company 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 company’s quarterly revenue was up 221.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.24) earnings per share. On average, sell-side analysts predict that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

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.