Impact Partnership Wealth LLC Invests $89,000 in IonQ, Inc. (NYSE:IONQ)

Impact Partnership Wealth LLC purchased a new position in shares of IonQ, Inc. (NYSE:IONQ) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,169 shares of the company’s stock, valued at approximately $89,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC increased its holdings in shares of IonQ by 4,824.2% during the 2nd quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock worth $46,000 after buying an additional 6,368 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new stake in shares of IonQ during the 2nd quarter worth approximately $67,000. nVerses Capital LLC acquired a new stake in shares of IonQ during the 3rd quarter worth approximately $72,000. Mosley Wealth Management acquired a new stake in shares of IonQ during the 2nd quarter worth approximately $81,000. Finally, Xponance Inc. purchased a new position in shares of IonQ during the 2nd quarter worth approximately $88,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on IONQ. Craig Hallum lowered their price objective on shares of IonQ from $21.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price objective on shares of IonQ in a research report on Wednesday, October 2nd. The Goldman Sachs Group lowered their price objective on shares of IonQ from $11.50 to $8.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Benchmark lowered their price objective on shares of IonQ from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Insider Buying and Selling at IonQ

In other 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 transaction of $98,184.48. Following the completion of the sale, the executive now directly owns 648,783 shares of the company’s stock, valued at approximately $6,954,953.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 31,125 shares of company stock valued at $377,660 in the last 90 days. Company insiders own 11.60% of the company’s stock.

IonQ Stock Up 6.4 %

Shares of IONQ stock opened at $15.69 on Friday. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $16.14. The stock has a market capitalization of $3.32 billion, a PE ratio of -18.90 and a beta of 2.05. The firm has a 50 day moving average of $8.76 and a two-hundred day moving average of $8.22.

IonQ (NYSE:IONQ) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.04. IonQ had a negative net margin of 525.13% and a negative return on equity of 34.02%. The company had revenue of $11.38 million during the quarter, compared to analysts’ expectations of $8.66 million. During the same quarter last year, the company posted ($0.16) EPS. The firm’s revenue was up 106.4% compared to the same quarter last year. Analysts expect that IonQ, Inc. will post -0.84 EPS for the current fiscal year.

IonQ 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.