Swedbank AB Invests $2.71 Million in IonQ, Inc. $IONQ

Swedbank AB bought a new position in shares of IonQ, Inc. (NYSE:IONQ) in the 4th quarter, HoldingsChannel reports. The fund bought 60,355 shares of the company’s stock, valued at approximately $2,708,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in IONQ. Ameriflex Group Inc. increased its position in shares of IonQ by 485.7% during the third quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock worth $25,000 after acquiring an additional 340 shares in the last quarter. Accent Capital Management LLC grew its position in IonQ by 171.8% in the 4th quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock worth $26,000 after purchasing an additional 371 shares in the last quarter. Fortitude Family Office LLC grew its position in IonQ by 3,800.0% in the 4th quarter. Fortitude Family Office LLC now owns 624 shares of the company’s stock worth $28,000 after purchasing an additional 608 shares in the last quarter. UMB Bank n.a. bought a new stake in IonQ in the 3rd quarter worth about $31,000. Finally, Beaird Harris Wealth Management LLC grew its position in IonQ by 117.4% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock worth $31,000 after purchasing an additional 270 shares in the last quarter. 41.42% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Robert T. Cardillo sold 3,773 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $49.90, for a total transaction of $188,272.70. Following the completion of the transaction, the insider directly owned 139,967 shares of the company’s stock, valued at $6,984,353.30. This represents a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John W. Raymond sold 2,800 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $33.34, for a total transaction of $93,352.00. Following the transaction, the insider directly owned 83,963 shares of the company’s stock, valued at $2,799,326.42. This represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.20% of the company’s stock.

Key IonQ News

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: Investors are bidding up quantum stocks after the U.S. Department of Commerce announced $2.013 billion in CHIPS Act grants to nine quantum computing companies, which is seen as a major validation for the industry and a potential tailwind for IonQ. Article title: QTUM ETF Crosses $5 Billion Even As IBM, Rigetti, IonQ, D-Wave Cool Off
• Positive Sentiment: IonQ is benefiting from renewed attention on quantum computing and speculation that it could be a future beneficiary of the government’s broader quantum technology push, helping support the stock. Article title: What Is Going On With IonQ Stock On Tuesday?
• Neutral Sentiment: Coverage on “why quantum hype returned” reinforces the sector’s momentum, but it appears to be more about a broad sentiment shift than a direct operational catalyst for IonQ. Article title: IonQ: Why Quantum Hype Returned
• Negative Sentiment: One analyst-style comparison argued that QBTS may have stronger June upside than IonQ because of faster bookings growth, rising enterprise adoption, and more attractive implied gains, which could shift some investor attention away from IONQ. Article title: IONQ vs. QBTS: Which Quantum Stock Has More Upside Potential in June?
• Negative Sentiment: Some commentary warns that the IonQ story could get messier after SkyWater developments, suggesting execution and competitive concerns may create volatility for the stock. Article title: IonQ: Quantum Story May Get Messier After SkyWater

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IONQ. Wall Street Zen raised shares of IonQ from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IonQ in a research report on Monday, February 9th. Morgan Stanley set a $48.50 price objective on shares of IonQ in a research report on Thursday, May 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of IonQ in a research report on Thursday, February 26th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of IonQ in a research report on Monday, May 4th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $68.63.

IonQ Stock Performance

Shares of IONQ stock opened at $65.56 on Thursday. IonQ, Inc. has a 52-week low of $25.89 and a 52-week high of $84.64. The company has a 50-day simple moving average of $42.23 and a two-hundred day simple moving average of $43.36. The company has a market capitalization of $24.47 billion, a price-to-earnings ratio of -234.14 and a beta of 3.05.

IonQ (NYSE:IONQ) last released 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). IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The company had revenue of $64.67 million for the quarter, compared to the consensus estimate of $49.75 million. During the same period in the prior year, the company earned ($0.14) earnings per share. The firm’s revenue was up 754.7% on a year-over-year basis. On average, sell-side analysts forecast that IonQ, Inc. will post -2.26 EPS for the current fiscal 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. 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.