Bessemer Group Inc. Increases Position in IonQ, Inc. $IONQ

Bessemer Group Inc. raised its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 214,390 shares of the company’s stock after buying an additional 13,084 shares during the period. Bessemer Group Inc.’s holdings in IonQ were worth $9,619,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. International Assets Investment Management LLC boosted its position in shares of IonQ by 4.3% during the third quarter. International Assets Investment Management LLC now owns 5,679 shares of the company’s stock valued at $349,000 after buying an additional 235 shares during the period. Lauer Wealth LLC boosted its position in shares of IonQ by 5.3% during the fourth quarter. Lauer Wealth LLC now owns 5,107 shares of the company’s stock valued at $229,000 after buying an additional 255 shares during the period. Beaird Harris Wealth Management LLC boosted its position in shares of IonQ by 117.4% during the third quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock valued at $31,000 after buying an additional 270 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of IonQ by 50.5% during the second quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock valued at $36,000 after buying an additional 279 shares during the period. Finally, Letson Investment Management Inc. boosted its position in shares of IonQ by 2.6% during the fourth quarter. Letson Investment Management Inc. now owns 12,619 shares of the company’s stock valued at $566,000 after buying an additional 319 shares during the period. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Key Stories Impacting IonQ

Here are the key news stories impacting IonQ this week:

• Negative Sentiment: Quantum-computing stocks including IonQ were hit hard Friday afternoon as the entire group fell, suggesting sector-wide risk-off sentiment is weighing on shares. Quantum Computing Stock Shock: IonQ, Rigetti, D-Wave, and Quantum Computing Inc. Fall 6% to 9%
• Negative Sentiment: Tech stocks are broadly falling today, adding extra pressure to IonQ as investors pull back from speculative growth names. Why IonQ Stock Is Plummeting Today
• Neutral Sentiment: Earlier coverage focused on IonQ’s strong Q1 results, including surging revenue, a growing backlog, and expanding enterprise adoption, which had supported bullish sentiment before today’s selloff. The Zacks Analyst Blog IonQ, D-Wave Quantum and Rigetti
• Neutral Sentiment: IonQ has also been highlighted as a leading quantum stock, but the shares remain highly sentiment-driven and volatile because the company is still not profitable. IonQ and 5 More Stocks to Play Quantum Fever

IonQ Stock Up 0.0%

IonQ stock opened at $51.97 on Monday. The business has a fifty day moving average of $38.45 and a two-hundred day moving average of $43.35. The firm has a market cap of $19.40 billion, a P/E ratio of -185.61 and a beta of 3.05. IonQ, Inc. has a twelve month low of $25.89 and a twelve month high of $84.64.

IonQ (NYSE:IONQ) last posted its earnings results on Wednesday, May 6th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). The company had revenue of $64.67 million for the quarter, compared to analysts’ expectations of $49.75 million. IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The firm’s quarterly revenue was up 754.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.14) EPS. Equities analysts expect that IonQ, Inc. will post -2.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Needham & Company LLC dropped their target price on IonQ from $80.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Cantor Fitzgerald restated an “overweight” rating on shares of IonQ in a research report on Monday, February 9th. Morgan Stanley set a $48.50 price target on IonQ in a report on Thursday, May 7th. Northland Securities assumed coverage on IonQ in a report on Monday, April 20th. They issued an “outperform” rating and a $55.00 price target for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price target on shares of IonQ in a report on Thursday, February 26th. Ten research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.63.

Insiders Place Their Bets

In related news, Director William J. Teuber, Jr. bought 3,000 shares of the stock in a transaction on Friday, February 27th. The stock was bought at an average price of $38.38 per share, for a total transaction of $115,140.00. Following the completion of the acquisition, the director directly owned 9,413 shares in the company, valued at approximately $361,270.94. This represents a 46.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John W. Raymond sold 2,800 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $33.34, for a total value of $93,352.00. Following the sale, the insider owned 83,963 shares of the company’s stock, valued at approximately $2,799,326.42. This represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,354 shares of company stock worth $504,428 over the last 90 days. Company insiders own 5.20% of the company’s stock.

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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.