FNY Investment Advisers LLC increased its stake in shares of IonQ, Inc. (NYSE:IONQ – Free Report) by 190.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,250 shares of the company’s stock after buying an additional 4,750 shares during the quarter. FNY Investment Advisers LLC’s holdings in IonQ were worth $98,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Levin Capital Strategies L.P. lifted its position in shares of IonQ by 586.7% during the 1st quarter. Levin Capital Strategies L.P. now owns 515,041 shares of the company’s stock worth $3,168,000 after buying an additional 440,041 shares during the period. National Bank of Canada FI bought a new position in shares of IonQ during the 1st quarter worth approximately $44,000. DNB Asset Management AS bought a new position in shares of IonQ during the 2nd quarter worth approximately $273,000. Stratos Wealth Partners LTD. raised its position in IonQ by 124.9% in the 1st quarter. Stratos Wealth Partners LTD. now owns 36,591 shares of the company’s stock valued at $225,000 after purchasing an additional 20,318 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in IonQ by 26.0% in the 1st quarter. SG Americas Securities LLC now owns 79,187 shares of the company’s stock valued at $487,000 after purchasing an additional 16,364 shares during the last quarter. Institutional investors own 38.88% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on IONQ. Needham & Company LLC lifted their price objective on IonQ from $11.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, August 11th. Westpark Capital downgraded IonQ from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Craig Hallum lifted their price objective on IonQ from $12.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, August 11th. Benchmark lifted their price objective on IonQ from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, August 14th. Finally, The Goldman Sachs Group lifted their price objective on IonQ from $9.00 to $14.00 and gave the company a “neutral” rating in a research report on Monday, August 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.80.
IonQ Price Performance
Shares of IONQ stock traded down $0.95 on Friday, reaching $17.08. 13,729,859 shares of the stock were exchanged, compared to its average volume of 8,393,019. The stock has a market cap of $3.46 billion, a PE ratio of -29.96 and a beta of 2.08. IonQ, Inc. has a one year low of $3.04 and a one year high of $21.60. The stock has a 50 day moving average price of $16.17 and a 200 day moving average price of $10.70.
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.
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