Prospera Financial Services Inc Purchases 25,502 Shares of IonQ, Inc. (NYSE:IONQ)

Prospera Financial Services Inc boosted its holdings in IonQ, Inc. (NYSE:IONQ) by 196.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,508 shares of the company’s stock after buying an additional 25,502 shares during the period. Prospera Financial Services Inc’s holdings in IonQ were worth $337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC lifted its stake in shares of 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 purchasing an additional 6,368 shares during the period. Redwood Wealth Management Group LLC acquired a new position in IonQ in the second quarter valued at about $67,000. nVerses Capital LLC bought a new position in IonQ during the third quarter worth about $72,000. Mosley Wealth Management acquired a new position in shares of IonQ during the 2nd quarter worth about $81,000. Finally, Xponance Inc. bought a new stake in shares of IonQ in the 2nd quarter valued at about $88,000. 41.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IONQ shares. Needham & Company LLC boosted their price objective on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Craig Hallum upped their price objective on shares of IonQ from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group reduced their target price on IonQ from $11.50 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, Benchmark increased their price target on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

IonQ Stock Down 3.0 %

Shares of NYSE:IONQ opened at $31.80 on Monday. The firm has a market cap of $6.88 billion, a price-to-earnings ratio of -39.26 and a beta of 1.89. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $33.80. The company’s fifty day simple moving average is $15.21 and its 200 day simple moving average is $10.34.

IonQ (NYSE:IONQ) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.02). The firm had revenue of $12.40 million during the quarter, compared to analyst estimates of $10.56 million. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The business’s revenue for the quarter was up 102.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.22) EPS. Research analysts expect that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at IonQ

In related news, CRO Rima Alameddine sold 22,875 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.75, for a total value of $406,031.25. Following the completion of the transaction, the executive now owns 592,658 shares of the company’s stock, valued at approximately $10,519,679.50. This trade represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 66,000 shares of company stock worth $972,331. Corporate insiders own 11.60% 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.