IonQ, Inc. $IONQ Stake Increased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in IonQ, Inc. (NYSE:IONQ) by 2,086.8% during the 1st quarter, HoldingsChannel reports. The fund owned 45,923 shares of the company’s stock after buying an additional 43,823 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in IonQ were worth $1,291,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Accent Capital Management LLC grew its holdings in IonQ by 171.8% during the 4th quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock worth $26,000 after acquiring an additional 371 shares in the last quarter. Fortitude Family Office LLC raised its stake in shares of IonQ by 3,800.0% in the 4th quarter. Fortitude Family Office LLC now owns 624 shares of the company’s stock valued at $28,000 after purchasing an additional 608 shares in the last quarter. Beaird Harris Wealth Management LLC raised its stake in shares of IonQ by 117.4% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock valued at $31,000 after purchasing an additional 270 shares in the last quarter. EverSource Wealth Advisors LLC lifted 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 worth $36,000 after purchasing an additional 279 shares during the last quarter. Finally, Kelleher Financial Advisors bought a new position in shares of IonQ during the third quarter worth about $36,000. 41.42% of the stock is currently owned by institutional investors.

Insider Activity

In other IonQ news, Director Kathryn K. Chou sold 2,757 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $55.02, for a total transaction of $151,690.14. Following the completion of the transaction, the director directly owned 62,608 shares of the company’s stock, valued at $3,444,692.16. The trade was a 4.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gabrielle B. Toledano sold 2,757 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $55.01, for a total transaction of $151,662.57. Following the completion of the transaction, the director owned 11,154 shares of the company’s stock, valued at approximately $613,581.54. This trade represents a 19.82% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 13,102 shares of company stock valued at $701,489. 0.55% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on IONQ. Jefferies Financial Group set a $85.00 price objective on IonQ in a report on Thursday, May 7th. Northland Securities increased their target price on IonQ from $55.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. Wedbush reiterated an “outperform” rating and issued a $60.00 target price on shares of IonQ in a research report on Monday, May 4th. Morgan Stanley set a $48.50 target price on IonQ in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. upped their price target on IonQ from $42.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, IonQ has an average rating of “Moderate Buy” and a consensus price target of $69.88.

More IonQ News

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: HSBC’s downgrade of IBM highlighted IonQ as one of the better alternative investments in a basket of tech stocks, which can support the bullish case for IONQ. IonQ and 3 More Stocks That Together Make a Better IBM
• Positive Sentiment: IonQ advanced its 256-qubit roadmap, including a new chip tape-out, a presold system, and a new quantum key distribution product launch, reinforcing the company’s long-term commercialization story. IonQ (IONQ) Could Be 19% Undervalued On Its 256 Qubit Roadmap Update
• Positive Sentiment: A new research partnership between the Jane Goodall Institute USA and FormationQ will use IonQ’s trapped-ion quantum computing, adding another visible real-world application for the platform. Jane Goodall Institute USA and FormationQ Launch First-of-its-kind Quantum Computing Research Programme
• Neutral Sentiment: Several articles noted that IonQ’s recent weakness is part of a broader selloff in quantum computing stocks, suggesting sector sentiment is still the main near-term driver. Why Investors Are Dumping This Quantum Stock for 9 Straight Days
• Neutral Sentiment: Commentary also pointed to Washington’s continued support for quantum technologies through executive actions and funding, which helps the industry backdrop but has not stopped IONQ’s pullback. IonQ Slides 36% in a Month: A Buying Opportunity Ahead of Q2 Earnings?
• Negative Sentiment: IonQ has been sliding for days, with investors dumping speculative growth names amid market pessimism and risk-off pressure, weighing on the stock. Why Investors Are Dumping This Quantum Stock for 9 Straight Days
• Negative Sentiment: Geopolitical ???? and a broader move away from risk assets also pressured IonQ, adding to weakness in the quantum sector. IonQ Stock Dips Amid US-Iran Tensions, Bitcoin Plunge

IonQ Price Performance

Shares of IONQ opened at $39.24 on Wednesday. IonQ, Inc. has a 12 month low of $25.89 and a 12 month high of $84.64. The stock has a fifty day moving average price of $55.51 and a 200 day moving average price of $44.77. The company has a market cap of $14.65 billion, a P/E ratio of -140.13 and a beta of 3.23.

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