Carnegie Investment Counsel Takes $5.04 Million Position in IonQ, Inc. (NYSE:IONQ)

Carnegie Investment Counsel bought a new stake in shares of 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 firm bought 576,215 shares of the company's stock, valued at approximately $5,036,000. Carnegie Investment Counsel owned approximately 0.27% of IonQ as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of IONQ. Oppenheimer & Co. Inc. raised its position in shares of IonQ by 4.0% during the first quarter. Oppenheimer & Co. Inc. now owns 36,495 shares of the company's stock worth $365,000 after purchasing an additional 1,400 shares during the period. Arizona State Retirement System raised its holdings in IonQ by 3.6% during the 2nd quarter. Arizona State Retirement System now owns 49,550 shares of the company's stock worth $348,000 after buying an additional 1,731 shares during the period. ProShare Advisors LLC lifted its stake in IonQ by 10.5% during the first quarter. ProShare Advisors LLC now owns 29,427 shares of the company's stock valued at $294,000 after buying an additional 2,805 shares in the last quarter. Quest Partners LLC lifted its stake in IonQ by 4,824.2% during the second quarter. Quest Partners LLC now owns 6,500 shares of the company's stock valued at $46,000 after buying an additional 6,368 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of IonQ by 40.6% in the second quarter. Principal Financial Group Inc. now owns 26,801 shares of the company's stock worth $188,000 after buying an additional 7,744 shares during the period. 41.42% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

IonQ Trading Up 1.7 %

NYSE:IONQ traded up $0.18 during trading hours on Monday, hitting $10.84. 10,785,901 shares of the company traded hands, compared to its average volume of 5,970,155. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of -12.67 and a beta of 2.05. The firm has a 50-day moving average of $7.80 and a 200 day moving average of $8.02. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $15.49.

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