WIM INVESTMENT MANAGEMENT Ltd Acquires Shares of 87,700 IonQ, Inc. $IONQ

WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in shares of IonQ, Inc. (NYSE:IONQFree Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 87,700 shares of the company’s stock, valued at approximately $3,935,000. IonQ accounts for about 1.0% of WIM INVESTMENT MANAGEMENT Ltd’s investment portfolio, making the stock its 15th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IONQ. Vanguard Group Inc. grew its position in shares of IonQ by 18.5% in the 4th quarter. Vanguard Group Inc. now owns 34,774,743 shares of the company’s stock worth $1,560,343,000 after buying an additional 5,420,037 shares during the period. Lansdowne Partners UK LLP grew its position in shares of IonQ by 286.1% in the 3rd quarter. Lansdowne Partners UK LLP now owns 1,937,031 shares of the company’s stock worth $119,127,000 after buying an additional 1,435,394 shares during the period. State Street Corp grew its position in shares of IonQ by 19.9% in the 3rd quarter. State Street Corp now owns 6,299,559 shares of the company’s stock worth $387,423,000 after buying an additional 1,043,878 shares during the period. Clear Street Group Inc. purchased a new stake in shares of IonQ in the 3rd quarter worth about $61,488,000. Finally, Ameriprise Financial Inc. grew its position in shares of IonQ by 262.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 576,391 shares of the company’s stock worth $24,768,000 after buying an additional 930,490 shares during the period. 41.42% of the stock is owned by hedge funds and other institutional investors.

IonQ Stock Performance

IONQ opened at $55.18 on Thursday. The stock has a market capitalization of $20.23 billion, a P/E ratio of -197.07 and a beta of 3.05. The company’s 50-day simple moving average is $37.75 and its two-hundred day simple moving average is $43.45. IonQ, Inc. has a 52-week low of $25.89 and a 52-week high of $84.64.

IonQ (NYSE:IONQGet Free Report) last posted its 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 company had revenue of $64.67 million for 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%. IonQ’s revenue was up 754.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.14) EPS. Research analysts forecast that IonQ, Inc. will post -1.95 EPS for the current fiscal year.

Analysts Set New Price Targets

IONQ has been the topic of a number of recent research reports. Weiss Ratings raised shares of IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday. Wall Street Zen downgraded shares of IonQ from a “sell” rating to a “strong sell” rating in a research report on Monday. Morgan Stanley set a $48.50 target price on shares of IonQ in a research report on Thursday, May 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of IonQ in a research report on Thursday, February 26th. Finally, DA Davidson reduced their target price 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. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.63.

Check Out Our Latest Research Report on IonQ

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Insider Buying and Selling at IonQ

In other IonQ news, insider John W. Raymond sold 2,800 shares of the company’s stock in a transaction dated 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 owned 83,963 shares in the company, valued at approximately $2,799,326.42. This represents a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William J. Teuber, Jr. bought 3,000 shares of the stock in a transaction on Friday, February 27th. The shares were bought at an average price of $38.38 per share, for a total transaction of $115,140.00. Following the purchase, the director directly owned 9,413 shares in the company, valued at approximately $361,270.94. This trade represents a 46.78% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have sold 12,354 shares of company stock worth $504,428. Company insiders own 5.20% of the company’s stock.

IonQ Company Profile

(Free Report)

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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Institutional Ownership by Quarter for IonQ (NYSE:IONQ)

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