Swedbank AB Buys New Shares in IonQ, Inc. $IONQ

Swedbank AB bought a new stake in IonQ, Inc. (NYSE:IONQFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 60,355 shares of the company’s stock, valued at approximately $2,708,000.

Several other hedge funds and other institutional investors have also bought and sold shares of IONQ. Royal Bank of Canada lifted its holdings in IonQ by 12.5% in the first quarter. Royal Bank of Canada now owns 134,176 shares of the company’s stock valued at $2,962,000 after buying an additional 14,898 shares during the period. Amundi acquired a new position in IonQ in the first quarter valued at $630,000. AQR Capital Management LLC lifted its holdings in IonQ by 106.2% in the first quarter. AQR Capital Management LLC now owns 57,305 shares of the company’s stock valued at $1,265,000 after buying an additional 29,513 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in IonQ by 24.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 450,031 shares of the company’s stock valued at $9,932,000 after buying an additional 87,428 shares during the period. Finally, Focus Partners Wealth lifted its holdings in IonQ by 30.3% in the first quarter. Focus Partners Wealth now owns 46,782 shares of the company’s stock valued at $1,032,000 after buying an additional 10,881 shares during the period. Institutional investors and hedge funds own 41.42% of the company’s stock.

IonQ Trading Up 3.0%

Shares of NYSE IONQ opened at $65.56 on Thursday. The firm’s 50-day moving average price is $42.23 and its 200-day moving average price is $43.36. IonQ, Inc. has a 1-year low of $25.89 and a 1-year high of $84.64. The firm has a market capitalization of $24.47 billion, a P/E ratio of -234.14 and a beta of 3.05.

IonQ (NYSE:IONQGet Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.08). IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The company had revenue of $64.67 million for the quarter, compared to analyst estimates of $49.75 million. During the same quarter in the prior year, the company posted ($0.14) EPS. IonQ’s revenue for the quarter was up 754.7% on a year-over-year basis. Equities research analysts forecast that IonQ, Inc. will post -2.26 EPS for the current year.

Key Headlines Impacting IonQ

Here are the key news stories impacting IonQ this week:

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Northland Securities assumed coverage on shares of IonQ in a report on Monday, April 20th. They issued an “outperform” rating and a $55.00 target price on the stock. Benchmark dropped their price objective on shares of IonQ from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. DA Davidson dropped their price objective on shares of IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a report on Thursday, February 26th. JPMorgan Chase & Co. upped their price objective on shares of IonQ from $42.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Jefferies Financial Group set a $85.00 price objective on shares of IonQ in a report on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, IonQ has a consensus rating of “Moderate Buy” and an average price target of $68.63.

Check Out Our Latest Stock Report on IONQ

Insider Transactions at IonQ

In other news, insider John W. Raymond sold 2,800 shares of the business’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 completion of the sale, the insider directly owned 83,963 shares of the company’s stock, valued at $2,799,326.42. The trade was a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William J. Teuber, Jr. bought 3,000 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were acquired at an average cost of $38.38 per share, with a total value of $115,140.00. Following the completion of the transaction, the director owned 9,413 shares of the company’s stock, valued at $361,270.94. This represents a 46.78% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 5.20% of the stock is currently owned by insiders.

About IonQ

(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.

See Also

Institutional Ownership by Quarter for IonQ (NYSE:IONQ)

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