Deutsche Bank AG bought a new position in shares of IonQ, Inc. (NYSE:IONQ – Free Report) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 522,644 shares of the company’s stock, valued at approximately $27,836,000.
A number of other institutional investors have also recently bought and sold shares of the stock. Accent Capital Management LLC increased its position in shares of IonQ by 171.8% during the fourth 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. EverSource Wealth Advisors LLC lifted its position in IonQ by 216.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 959 shares of the company’s stock valued at $28,000 after acquiring an additional 656 shares in the last quarter. PeakShares LLC bought a new stake in IonQ in the 1st quarter valued at $29,000. Beaird Harris Wealth Management LLC boosted its stake 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 during the period. Finally, MWA Asset Management acquired a new position in IonQ in the 1st quarter worth $32,000. Institutional investors own 41.42% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have issued reports on IONQ. JPMorgan Chase & Co. lifted their price target on IonQ from $42.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Benchmark reaffirmed a “buy” rating and set a $60.00 price objective on shares of IonQ in a research report on Thursday, August 6th. Wall Street Zen downgraded IonQ from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 target price on shares of IonQ in a research report on Thursday, August 6th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 target price on shares of IonQ in a research note on Thursday, August 6th. Nine equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.92.
IonQ Stock Performance
IonQ stock opened at $44.95 on Friday. The stock has a 50-day simple moving average of $44.36 and a 200 day simple moving average of $43.17. The stock has a market capitalization of $17.13 billion, a P/E ratio of -9.65 and a beta of 3.28. IonQ, Inc. has a 52 week low of $25.89 and a 52 week high of $84.64.
IonQ (NYSE:IONQ – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.23. IonQ had a negative return on equity of 22.29% and a negative net margin of 553.27%.The firm had revenue of $80.05 million for the quarter, compared to analyst estimates of $66.47 million. During the same quarter in the prior year, the company earned ($0.70) earnings per share. The business’s revenue for the quarter was up 286.7% compared to the same quarter last year. Research analysts forecast that IonQ, Inc. will post -2.86 earnings per share for the current year.
Insider Activity at IonQ
In other IonQ news, Director Kathryn K. Chou sold 2,757 shares of IonQ stock in a transaction on 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gabrielle B. Toledano sold 2,757 shares of IonQ stock in a transaction on Thursday, June 18th. The stock was 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 of the company’s stock, valued at approximately $613,581.54. This trade represents a 19.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 9,329 shares of company stock worth $513,216. Company insiders own 0.55% of the company’s stock.
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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