Nomura Asset Management Co. Ltd. purchased a new stake in IonQ, Inc. (NYSE:IONQ – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 93,870 shares of the company’s stock, valued at approximately $4,212,000.
A number of other institutional investors also recently modified their holdings of IONQ. Vanguard Group Inc. raised its position in shares of IonQ by 18.5% in the fourth quarter. Vanguard Group Inc. now owns 34,774,743 shares of the company’s stock valued at $1,560,343,000 after purchasing an additional 5,420,037 shares during the period. Norges Bank bought a new position in shares of IonQ in the fourth quarter valued at approximately $199,753,000. Geode Capital Management LLC raised its position in shares of IonQ by 21.9% in the fourth quarter. Geode Capital Management LLC now owns 8,074,301 shares of the company’s stock valued at $361,624,000 after purchasing an additional 1,452,463 shares during the period. Lansdowne Partners UK LLP raised its position in shares of IonQ by 286.1% in the third quarter. Lansdowne Partners UK LLP now owns 1,937,031 shares of the company’s stock valued at $119,127,000 after purchasing an additional 1,435,394 shares during the period. Finally, State Street Corp raised its position in shares of IonQ by 19.9% in the third quarter. State Street Corp now owns 6,299,559 shares of the company’s stock valued at $387,423,000 after purchasing an additional 1,043,878 shares during the period. Institutional investors own 41.42% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. DA Davidson dropped their price target on shares of IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, February 26th. Wall Street Zen raised shares of IonQ from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. JPMorgan Chase & Co. lifted their price target on shares of IonQ from $42.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Northland Securities began coverage on shares of IonQ in a research report on Monday, April 20th. They issued an “outperform” rating and a $55.00 price target on the stock. Finally, Weiss Ratings raised shares of IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Ten equities research 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $68.63.
IonQ Trading Down 3.7%
Shares of IONQ stock opened at $65.68 on Friday. IonQ, Inc. has a 1 year low of $25.89 and a 1 year high of $84.64. The firm’s fifty day simple moving average is $46.67 and its 200 day simple moving average is $44.09. The firm has a market capitalization of $24.52 billion, a P/E ratio of -234.57 and a beta of 3.18.
IonQ (NYSE:IONQ – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.08). The business 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 company’s quarterly revenue was up 754.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.14) EPS. Equities research analysts anticipate that IonQ, Inc. will post -2.26 EPS for the current fiscal year.
Insider Buying and Selling at IonQ
In other IonQ news, insider Robert T. Cardillo sold 3,773 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $49.90, for a total value of $188,272.70. Following the sale, the insider owned 139,967 shares of the company’s stock, valued at $6,984,353.30. The trade was a 2.62% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John W. Raymond sold 2,800 shares of the business’s stock in a transaction 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 completion of the sale, the insider directly owned 83,963 shares in the company, valued at $2,799,326.42. This trade represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.20% of the company’s stock.
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.
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