428,900 Shares in IonQ, Inc. (NYSE:IONQ) Acquired by Yong Rong HK Asset Management Ltd

Yong Rong HK Asset Management Ltd purchased a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 428,900 shares of the company's stock, valued at approximately $3,749,000. IonQ accounts for 1.1% of Yong Rong HK Asset Management Ltd's investment portfolio, making the stock its 16th largest holding. Yong Rong HK Asset Management Ltd owned 0.20% of IonQ as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC raised its position in IonQ by 1,598.7% during the 1st quarter. SG Americas Securities LLC now owns 2,084,625 shares of the company's stock worth $20,825,000 after buying an additional 1,961,909 shares during the last quarter. Vanguard Group Inc. raised its position in 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 buying an additional 918,265 shares during the last quarter. Carnegie Investment Counsel purchased a new position in IonQ during the 3rd quarter worth $5,036,000. Gagnon Securities LLC purchased a new position in IonQ during the 1st quarter worth $2,410,000. Finally, Gagnon Advisors LLC purchased a new position in IonQ during the 1st quarter worth $1,582,000. Institutional investors and hedge funds own 41.42% of the company's stock.

Insider Activity at IonQ

In related news, CRO Rima Alameddine sold 9,159 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $10.72, for a total value of $98,184.48. Following the sale, the executive now directly owns 648,783 shares of the company's stock, valued at approximately $6,954,953.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 66,000 shares of company stock valued at $972,331. Insiders own 11.60% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on IONQ. Needham & Company LLC restated 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 cut their price target on shares of IonQ from $11.50 to $8.00 and set a "neutral" rating for the company in a report on Friday, August 9th. Craig Hallum cut their price target on shares of IonQ from $21.00 to $15.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Finally, Benchmark cut their price target on shares of IonQ from $16.00 to $12.00 and set a "buy" rating for the company in a report on Monday, August 12th.

IonQ Trading Down 1.2 %

Shares of IONQ traded down $0.18 during trading hours on Friday, reaching $14.85. The company had a trading volume of 15,846,997 shares, compared to its average volume of 7,082,226. The firm has a 50 day simple moving average of $10.00 and a 200-day simple moving average of $8.62. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of -18.80 and a beta of 2.05. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $18.20.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.04. The firm had revenue of $11.38 million for 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 firm's revenue was up 106.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.16) EPS. Sell-side analysts forecast that IonQ, Inc. will post -0.84 earnings per share 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.