BI Asset Management Fondsmaeglerselskab A S cut its holdings in IonQ, Inc. (NYSE:IONQ – Free Report) by 94.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 7,469 shares of the company’s stock after selling 120,275 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in IonQ were worth $215,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Ameriflex Group Inc. grew its position in IonQ by 485.7% in 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 raised its position in IonQ by 171.8% during the fourth quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock valued at $26,000 after purchasing an additional 371 shares during the period. Fortitude Family Office LLC lifted 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 during the last quarter. Beaird Harris Wealth Management LLC lifted 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 during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of IonQ by 50.5% in the 2nd 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 period. 41.42% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at IonQ
In other news, Director Gabrielle B. Toledano sold 2,757 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $55.01, for a total transaction of $151,662.57. Following the transaction, the director directly owned 11,154 shares in the company, valued at approximately $613,581.54. This trade represents a 19.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert T. Cardillo sold 3,773 shares of IonQ 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 transaction, the insider directly owned 139,967 shares in the company, valued at approximately $6,984,353.30. The trade was a 2.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 13,102 shares of company stock worth $701,489. 0.55% of the stock is owned by company insiders.
Key IonQ News
- Positive Sentiment: Fresh coverage says Washington’s push into quantum computing is elevating IonQ as one of the sector’s key beneficiaries, with federal efforts and direct support for quantum developers reinforcing the company’s strategic importance. Article title
- Positive Sentiment: Analysts and commentators continue to highlight IonQ’s technology leadership and rapid revenue growth, keeping the long-term growth story intact despite near-term volatility. Article title
- Positive Sentiment: Coverage around IonQ versus Quantinuum underscores ongoing investor interest in quantum accuracy and commercialization leadership, which can support sentiment toward the stock. Article title
- Neutral Sentiment: Recent articles on “quantum computing stocks to keep an eye on” and broader sector rotation suggest continued attention to the group, but do not materially change IonQ’s fundamentals on their own. Article title
- Neutral Sentiment: A director sold a relatively small block of shares, which may add some short-term caution but is not large enough by itself to alter the investment thesis. Article title
- Negative Sentiment: IonQ was also hit by a report noting it suffered a larger drop than the broader market, reinforcing concerns that the stock remains highly volatile. Article title
- Negative Sentiment: Other commentary warns that investors are starting to separate quantum “winners” from “losers,” and some coverage points to stretched valuations and execution risk across the sector. Article title
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on IONQ. DA Davidson cut their target price on IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, February 26th. JPMorgan Chase & Co. boosted their price objective 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. Weiss Ratings upgraded shares of IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Wall Street Zen upgraded IonQ from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, Benchmark lowered their target price on shares of IonQ from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.88.
Check Out Our Latest Stock Report on IONQ
IonQ Trading Down 5.9%
Shares of IonQ stock opened at $50.42 on Friday. The stock’s fifty day moving average price is $54.96 and its 200-day moving average price is $45.08. The firm has a market cap of $18.82 billion, a P/E ratio of -180.08 and a beta of 3.18. IonQ, Inc. has a 12 month low of $25.89 and a 12 month high of $84.64.
IonQ (NYSE:IONQ – Get Free Report) last released its quarterly earnings data 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 negative return on equity of 23.20% and a net margin of 174.88%.The business had revenue of $64.67 million during the quarter, compared to analysts’ expectations of $49.75 million. During the same period last year, the company earned ($0.14) earnings per share. The firm’s revenue was up 754.7% compared to the same quarter last year. Analysts forecast that IonQ, Inc. will post -2.26 earnings per share for the current 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.
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Want to see what other hedge funds are holding IONQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IonQ, Inc. (NYSE:IONQ – Free Report).
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