IonQ, Inc. $IONQ Stock Position Increased by Huntington National Bank

Huntington National Bank boosted its position in shares of IonQ, Inc. (NYSE:IONQ) by 2,034.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,003 shares of the company’s stock after buying an additional 956 shares during the quarter. Huntington National Bank’s holdings in IonQ were worth $43,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in IonQ by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 21,497,964 shares of the company’s stock valued at $474,460,000 after acquiring an additional 123,839 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of IonQ by 34.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,139,217 shares of the company’s stock worth $48,952,000 after purchasing an additional 294,881 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in IonQ by 101.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 927,760 shares of the company’s stock valued at $20,476,000 after purchasing an additional 467,084 shares during the last quarter. UNICOM Systems Inc. boosted its holdings in IonQ by 77.4% during the first quarter. UNICOM Systems Inc. now owns 768,900 shares of the company’s stock worth $16,970,000 after buying an additional 335,429 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in IonQ by 255.8% during the first quarter. Deutsche Bank AG now owns 761,066 shares of the company’s stock worth $16,797,000 after buying an additional 547,155 shares in the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

IonQ Stock Up 2.9%

Shares of NYSE:IONQ opened at $59.07 on Monday. The company’s fifty day moving average is $61.61 and its two-hundred day moving average is $47.17. The company has a market cap of $20.52 billion, a P/E ratio of -11.04 and a beta of 2.59. IonQ, Inc. has a 12-month low of $17.88 and a 12-month high of $84.64.

IonQ (NYSE:IONQ) last issued its earnings results on Wednesday, November 5th. The company reported ($3.58) EPS for the quarter, missing the consensus estimate of ($0.44) by ($3.14). The business had revenue of $39.87 million during the quarter, compared to analyst estimates of $26.99 million. IonQ had a negative return on equity of 127.06% and a negative net margin of 1,836.32%.The business’s quarterly revenue was up 221.5% on a year-over-year basis. During the same period last year, the business earned ($0.24) EPS. IonQ has set its FY 2025 guidance at EPS. Equities research analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current year.

Insider Activity at IonQ

In related news, insider Paul T. Dacier sold 4,175 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total transaction of $185,370.00. Following the transaction, the insider directly owned 114,454 shares of the company’s stock, valued at approximately $5,081,757.60. The trade was a 3.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Rima Alameddine sold 19,976 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total transaction of $886,934.40. Following the completion of the transaction, the executive owned 532,616 shares in the company, valued at approximately $23,648,150.40. This represents a 3.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 113,622 shares of company stock worth $4,931,896. Company insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

IONQ has been the topic of several research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 price target on shares of IonQ in a report on Thursday. B. Riley lifted their target price on IonQ from $75.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Zacks Research raised IonQ from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Benchmark upped their target price on IonQ from $55.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. Finally, Oppenheimer started coverage on IonQ in a research note on Wednesday, July 30th. They issued an “outperform” rating on the stock. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.11.

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.