LMR Partners LLP Invests $874,000 in IonQ, Inc. (NYSE:IONQ)

LMR Partners LLP purchased a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 100,000 shares of the company's stock, valued at approximately $874,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of IonQ by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 18,824,996 shares of the company's stock worth $188,062,000 after purchasing an additional 918,265 shares in the last quarter. Carnegie Investment Counsel bought a new stake in shares of IonQ in the 3rd quarter valued at $5,036,000. SG Americas Securities LLC boosted its stake in IonQ by 27.3% during the 2nd quarter. SG Americas Securities LLC now owns 2,654,531 shares of the company's stock valued at $18,661,000 after purchasing an additional 569,906 shares during the last quarter. Yong Rong HK Asset Management Ltd bought a new position in shares of IonQ in the third quarter valued at approximately $3,749,000. Finally, Bank of New York Mellon Corp increased its stake in shares of IonQ by 16.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 916,536 shares of the company's stock worth $6,443,000 after purchasing an additional 131,439 shares during the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IONQ has been the subject of a number of research reports. Craig Hallum boosted their price target on shares of IonQ from $15.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. The Goldman Sachs Group decreased 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. Benchmark lifted their price target on shares of IonQ from $12.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Finally, Needham & Company LLC lifted their target price on IonQ from $13.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, November 7th.

IonQ Price Performance

Shares of NYSE:IONQ traded up $1.00 during midday trading on Wednesday, reaching $28.89. 28,827,350 shares of the company's stock were exchanged, compared to its average volume of 8,773,770. The firm's 50 day simple moving average is $13.79 and its two-hundred day simple moving average is $9.87. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $30.50. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of -34.70 and a beta of 1.89.

IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings data 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). IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The firm had revenue of $12.40 million for the quarter, compared to analysts' expectations of $10.56 million. During the same period last year, the firm posted ($0.22) earnings per share. IonQ's revenue for the quarter was up 102.1% on a year-over-year basis. Equities research analysts predict that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CRO Rima Alameddine sold 22,875 shares of the 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 sale, the executive now owns 592,658 shares of the company's stock, valued at $10,519,679.50. This represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 66,000 shares of company stock valued at $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.