Virtu Financial LLC Raises Stock Holdings in IonQ, Inc. (NYSE:IONQ)

Virtu Financial LLC increased its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 22.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,755 shares of the company’s stock after acquiring an additional 10,074 shares during the quarter. Virtu Financial LLC’s holdings in IonQ were worth $547,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. National Bank of Canada FI boosted its holdings in shares of IonQ by 26.1% in the 4th quarter. National Bank of Canada FI now owns 8,000 shares of the company’s stock worth $97,000 after buying an additional 1,655 shares during the last quarter. QCM Cayman Ltd. purchased a new position in IonQ in the first quarter valued at about $120,000. Prospect Financial Services LLC bought a new position in shares of IonQ during the 4th quarter valued at approximately $124,000. Keystone Financial Group purchased a new stake in shares of IonQ during the 4th quarter worth approximately $136,000. Finally, Avantax Advisory Services Inc. bought a new stake in shares of IonQ in the 1st quarter worth approximately $153,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reissued a “buy” rating and issued a $18.00 target price on shares of IonQ in a research report on Thursday, May 16th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Insider Buying and Selling at IonQ

In related news, CFO Thomas G. Kramer sold 4,610 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $7.89, for a total value of $36,372.90. Following the completion of the transaction, the chief financial officer now directly owns 949,614 shares in the company, valued at $7,492,454.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Thomas G. Kramer sold 4,610 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $7.89, for a total transaction of $36,372.90. Following the transaction, the chief financial officer now directly owns 949,614 shares of the company’s stock, valued at approximately $7,492,454.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Rima Alameddine sold 9,807 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $7.89, for a total value of $77,377.23. Following the completion of the sale, the executive now owns 687,840 shares of the company’s stock, valued at approximately $5,427,057.60. The disclosure for this sale can be found here. Insiders sold a total of 20,353 shares of company stock worth $160,585 over the last three months. 11.60% of the stock is owned by insiders.

IonQ Price Performance

NYSE:IONQ traded down $0.44 during trading hours on Friday, hitting $7.08. The stock had a trading volume of 5,075,599 shares, compared to its average volume of 5,773,801. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -8.52 and a beta of 2.05. IonQ, Inc. has a one year low of $6.33 and a one year high of $21.60. The company has a 50 day simple moving average of $7.74 and a two-hundred day simple moving average of $8.97.

IonQ (NYSE:IONQ) last posted its earnings results on Wednesday, May 8th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.07. The business had revenue of $7.58 million during the quarter, compared to analysts’ expectations of $7.08 million. IonQ had a negative return on equity of 31.76% and a negative net margin of 671.00%. The firm’s revenue was up 76.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.14) earnings per share. Equities research analysts anticipate that IonQ, Inc. will post -0.89 earnings per share for the current year.

About IonQ

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.