Carnegie Investment Counsel Has $4.81 Million Position in IonQ, Inc. $IONQ

Carnegie Investment Counsel lessened its stake in IonQ, Inc. (NYSE:IONQ) by 44.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 166,965 shares of the company’s stock after selling 131,994 shares during the quarter. Carnegie Investment Counsel’s holdings in IonQ were worth $4,814,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bogart Wealth LLC boosted its stake in shares of IonQ by 24.4% during the 1st quarter. Bogart Wealth LLC now owns 1,273 shares of the company’s stock valued at $37,000 after buying an additional 250 shares during the period. Lauer Wealth LLC grew its holdings in shares of IonQ by 5.3% during the 4th quarter. Lauer Wealth LLC now owns 5,107 shares of the company’s stock valued at $229,000 after acquiring an additional 255 shares in the last quarter. Beaird Harris Wealth Management LLC increased its stake in shares of IonQ by 117.4% in the third quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock worth $31,000 after acquiring an additional 270 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of IonQ by 50.5% in the second quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock worth $36,000 after acquiring an additional 279 shares during the last quarter. Finally, Letson Investment Management Inc. raised its holdings in shares of IonQ by 2.6% during the fourth quarter. Letson Investment Management Inc. now owns 12,619 shares of the company’s stock worth $566,000 after acquiring an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IONQ. Northland Securities boosted their target price on IonQ from $55.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. Wall Street Zen raised IonQ from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price target on shares of IonQ in a report on Thursday, June 11th. JPMorgan Chase & Co. boosted their price target on IonQ from $42.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley set a $48.50 price objective on IonQ in a report on Thursday, May 7th. Ten 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.88.

IonQ Price Performance

IonQ stock opened at $42.90 on Monday. IonQ, Inc. has a one year low of $25.89 and a one year high of $84.64. The company’s fifty day moving average price is $55.81 and its two-hundred day moving average price is $44.94. The company has a market capitalization of $16.01 billion, a price-to-earnings ratio of -153.21 and a beta of 3.23.

IonQ (NYSE:IONQ) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). The company had revenue of $64.67 million during the quarter, compared to analyst estimates of $49.75 million. IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.IonQ’s quarterly revenue was up 754.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.14) EPS. As a group, sell-side analysts anticipate that IonQ, Inc. will post -2.26 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Robert T. Cardillo sold 3,773 shares of IonQ stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $49.90, for a total value of $188,272.70. Following the transaction, the insider owned 139,967 shares in the company, valued at $6,984,353.30. This trade represents a 2.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John W. Raymond sold 3,815 shares of IonQ stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $55.01, for a total value of $209,863.15. Following the completion of the transaction, the insider owned 80,148 shares in the company, valued at $4,408,941.48. The trade was a 4.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,102 shares of company stock worth $701,489 over the last ninety days. Company insiders own 0.55% of the company’s stock.

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.