Fmr LLC Purchases 41,125 Shares of IonQ, Inc. (NYSE:IONQ)

FMR LLC boosted its position in IonQ, Inc. (NYSE:IONQ - Free Report) by 7.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 612,625 shares of the company's stock after purchasing an additional 41,125 shares during the period. FMR LLC owned about 0.29% of IonQ worth $5,354,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in IONQ. Charles Schwab Investment Management Inc. grew its holdings in IonQ by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company's stock valued at $14,107,000 after purchasing an additional 135,851 shares during the period. Carnegie Investment Counsel bought a new position in shares of IonQ during the 3rd quarter valued at approximately $5,036,000. Yong Rong HK Asset Management Ltd purchased a new stake in IonQ in the 3rd quarter worth approximately $3,749,000. Prospera Financial Services Inc raised its stake in IonQ by 196.1% during the 3rd quarter. Prospera Financial Services Inc now owns 38,508 shares of the company's stock worth $337,000 after acquiring an additional 25,502 shares during the period. Finally, Bleakley Financial Group LLC purchased a new position in IonQ during the third quarter valued at approximately $152,000. 41.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Needham & Company LLC increased their price objective on shares of IonQ from $13.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Benchmark boosted their price objective on IonQ from $12.00 to $22.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Craig Hallum increased their target price on IonQ from $15.00 to $22.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th.

Insider Activity

In other IonQ news, CRO Rima Alameddine sold 22,875 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.75, for a total transaction of $406,031.25. Following the sale, the executive now directly owns 592,658 shares in the company, valued at $10,519,679.50. This represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders sold 66,000 shares of company stock worth $972,331. 11.60% of the stock is currently owned by insiders.

IonQ Stock Up 12.9 %

IONQ stock traded up $3.87 during mid-day trading on Friday, hitting $33.86. The company had a trading volume of 24,629,528 shares, compared to its average volume of 9,928,242. The company has a 50-day moving average price of $22.12 and a 200 day moving average price of $12.67. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $38.45. The company has a market capitalization of $7.33 billion, a price-to-earnings ratio of -38.74 and a beta of 2.49.

IonQ (NYSE:IONQ - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.02). The firm had revenue of $12.40 million during the quarter, compared to analysts' expectations of $10.56 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. IonQ's quarterly revenue was up 102.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.22) earnings per share. As a group, analysts expect that IonQ, Inc. will post -0.86 EPS for the current 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.