PDS Planning Inc Takes $101,000 Position in IonQ, Inc. (NYSE:IONQ)

by · The Cerbat Gem

PDS Planning Inc acquired a new stake in IonQ, Inc. (NYSE:IONQ – Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,529 shares of the company’s stock, valued at approximately $101,000.

A number of other large investors have also added to or reduced their stakes in IONQ. Quest Partners LLC increased its position in IonQ by 4,824.2% in the 2nd quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock valued at $46,000 after acquiring an additional 6,368 shares during the period. Redwood Wealth Management Group LLC acquired a new stake in IonQ in the second quarter valued at $67,000. nVerses Capital LLC bought a new position in IonQ during the 3rd quarter worth $72,000. Mosley Wealth Management acquired a new stake in shares of IonQ in the second quarter valued at about $81,000. Finally, Xponance Inc. bought a new position in shares of IonQ during the second quarter worth about $88,000. Institutional investors own 41.42% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on IONQ. Needham & Company LLC restated a “buy” rating and set a $13.00 price target on shares of IonQ in a report on Wednesday, October 2nd. Craig Hallum dropped their target price on shares of IonQ from $21.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group decreased their price target on IonQ from $11.50 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Finally, Benchmark dropped their price objective on IonQ from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, August 12th.

View Our Latest Analysis on IonQ

IonQ Trading Up 7.0 %

IONQ opened at $15.37 on Wednesday. The company has a fifty day moving average price of $10.30 and a two-hundred day moving average price of $8.74. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $18.20. The company has a market cap of $3.29 billion, a P/E ratio of -19.46 and a beta of 1.89.

IonQ (NYSE:IONQ – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The business had revenue of $11.38 million for the quarter, compared to the consensus estimate of $8.66 million. IonQ had a negative return on equity of 34.02% and a negative net margin of 525.13%. The firm’s revenue for the quarter was up 106.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.16) EPS. On average, research analysts forecast that IonQ, Inc. will post -0.84 EPS for the current fiscal year.

Insider Transactions at IonQ

In related news, CRO Rima Alameddine sold 9,159 shares of IonQ stock in a transaction on Monday, October 14th. The shares were sold at an average price of $10.72, for a total value of $98,184.48. Following the completion of the sale, the executive now owns 648,783 shares of the company’s stock, valued at approximately $6,954,953.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 66,000 shares of company stock valued at $972,331 over the last ninety days. 11.60% of the stock is owned by company insiders.

About IonQ

(Free Report)

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.

Further Reading

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