IonQ, Inc. $IONQ Stock: Kestra Advisory Services LLC Boosts Stake

Kestra Advisory Services LLC raised its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 9.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 200,889 shares of the company’s stock after acquiring an additional 16,839 shares during the quarter. Kestra Advisory Services LLC’s holdings in IonQ were worth $8,811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of IONQ. B&D White Capital Company LLC bought a new position in shares of IonQ in the third quarter worth $3,439,000. Commonwealth Equity Services LLC boosted its holdings in IonQ by 21.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 123,630 shares of the company’s stock valued at $5,422,000 after purchasing an additional 21,534 shares during the period. Pathway Financial Advisers LLC purchased a new position in shares of IonQ during the 3rd quarter valued at $60,000. Verity Asset Management Inc. increased its holdings in shares of IonQ by 44.4% in the third quarter. Verity Asset Management Inc. now owns 16,091 shares of the company’s stock worth $706,000 after purchasing an additional 4,950 shares during the period. Finally, Integrity Alliance LLC. increased its holdings in shares of IonQ by 121.5% in the third quarter. Integrity Alliance LLC. now owns 8,338 shares of the company’s stock worth $366,000 after purchasing an additional 4,573 shares during the period. Institutional investors own 41.42% of the company’s stock.

IonQ News Roundup

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: Gartner named IonQ a “Market Shaper” in its inaugural quantum-computing quadrant for established vendors, recognizing its ability to deliver and support systems in commercial settings. The designation may bolster the company’s credibility as it pursues broader adoption. IonQ Gartner announcement
• Positive Sentiment: Recent third-quarter results beat analyst estimates: revenue reached $173.8 million, up 336% year over year, and IonQ raised its full-year revenue outlook. The report also cited demand and commercial activity as growth drivers. IonQ Q3 earnings call highlights
• Positive Sentiment: A new distribution partnership with Carahsoft will make IonQ’s quantum offerings available through procurement channels used by U.S. federal agencies, potentially widening access to public-sector customers. IonQ and Carahsoft partnership
• Neutral Sentiment: One report linked IonQ’s decline to weakness in space-related stocks after Rocket Lab and AST SpaceMobile reported results. That points to broader trading sentiment rather than a new negative development at IonQ. IonQ shares fall with space stocks
• Negative Sentiment: Cantor Fitzgerald lowered its price target to $60 from $70 following the earnings report. Although the revised target still implied substantial upside in the article, the cut may temper enthusiasm after IonQ’s recent rally. Cantor Fitzgerald price target update

IonQ Trading Down 0.7%

NYSE:IONQ opened at $35.08 on Wednesday. IonQ, Inc. has a 12 month low of $24.92 and a 12 month high of $73.65. The company has a current ratio of 4.24, a quick ratio of 10.66 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $36.75 and a 200-day moving average price of $41.44. The stock has a market cap of $15.06 billion, a price-to-earnings ratio of 129.93 and a beta of 3.32.

IonQ (NYSE:IONQ) last announced its earnings results on Thursday, November 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.06. The firm had revenue of $173.83 million during the quarter, compared to analyst estimates of $141.49 million. IonQ had a return on equity of 0.18% and a net margin of 67.09%. The business’s revenue was up 336.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($3.58) EPS. Equities analysts predict that IonQ, Inc. will post -2.96 EPS for the current year.

Wall Street Analyst Weigh In

IONQ has been the topic of a number of research analyst reports. Wedbush restated an “outperform” rating and issued a $75.00 target price on shares of IonQ in a research note on Tuesday, October 13th. Wall Street Zen upgraded shares of IonQ from a “strong sell” rating to a “sell” rating in a research report on Saturday. Bank of America restated a “buy” rating and set a $50.00 price objective on shares of IonQ in a research report on Friday. Zacks Research cut IonQ from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 5th. Finally, Mizuho decreased their price objective on IonQ from $61.00 to $52.00 and set an “outperform” rating on the stock in a report on Wednesday, September 9th. Ten investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $60.23.

Insider Buying and Selling at IonQ

In other news, insider John Raymond sold 2,407 shares of IonQ stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $37.21, for a total transaction of $89,564.47. Following the completion of the transaction, the insider directly owned 77,741 shares in the company, valued at approximately $2,892,742.61. This trade represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.55% of the company’s stock.

IonQ Profile

IonQ, Inc. develops quantum computers and related technologies using trapped-ion qubits, which store information in individual charged atoms. The company designs quantum computing hardware and software for applications that may benefit from quantum processing, including optimization, chemistry, and machine learning. IonQ makes its quantum systems available to businesses, government agencies, and researchers through its cloud service and third-party platforms, including Amazon Braket and Microsoft Azure Quantum.