Amazon Com Inc. Makes New Investment in IonQ, Inc. $IONQ

Amazon Com Inc. purchased a new position in shares of IonQ, Inc. (NYSE:IONQ) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 854,207 shares of the company’s stock, valued at approximately $36,705,000. IonQ comprises about 1.5% of Amazon Com Inc.’s portfolio, making the stock its 4th biggest position. Amazon Com Inc. owned 0.33% of IonQ at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in IonQ by 116.7% in the first quarter. GAMMA Investing LLC now owns 2,462 shares of the company’s stock valued at $54,000 after buying an additional 1,326 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in IonQ by 54.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,735 shares of the company’s stock valued at $203,000 after purchasing an additional 3,068 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in IonQ during the 1st quarter valued at $628,000. Concurrent Investment Advisors LLC lifted its holdings in IonQ by 13.9% during the 1st quarter. Concurrent Investment Advisors LLC now owns 10,805 shares of the company’s stock valued at $238,000 after purchasing an additional 1,319 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its holdings in IonQ by 15.7% during the 1st quarter. Stratos Wealth Partners LTD. now owns 20,740 shares of the company’s stock valued at $458,000 after purchasing an additional 2,814 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.

IonQ Price Performance

Shares of NYSE:IONQ opened at $53.32 on Wednesday. The company has a market capitalization of $18.52 billion, a P/E ratio of -26.53 and a beta of 2.59. IonQ, Inc. has a 1 year low of $14.63 and a 1 year high of $84.64. The business’s 50 day simple moving average is $60.72 and its 200 day simple moving average is $46.50.

IonQ (NYSE:IONQ) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.57). IonQ had a negative return on equity of 67.11% and a negative net margin of 885.21%.The company had revenue of $20.69 million during the quarter, compared to the consensus estimate of $17.23 million. During the same quarter in the previous year, the business posted ($0.18) EPS. The firm’s revenue for the quarter was up 81.6% on a year-over-year basis. On average, sell-side analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Paul T. Dacier sold 4,175 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $44.40, for a total value of $185,370.00. Following the transaction, the insider owned 114,454 shares in the company, valued at approximately $5,081,757.60. This trade represents a 3.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert T. Cardillo sold 8,773 shares of the firm’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $50.52, for a total value of $443,211.96. Following the completion of the transaction, the insider owned 37,436 shares in the company, valued at $1,891,266.72. The trade was a 18.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 113,622 shares of company stock valued at $4,931,896 in the last ninety days. Insiders own 5.20% of the company’s stock.

Wall Street Analysts Forecast Growth

IONQ has been the subject of several research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $70.00 price target on shares of IonQ in a report on Monday, September 15th. Oppenheimer began coverage on IonQ in a research report on Wednesday, July 30th. They set an “outperform” rating on the stock. Morgan Stanley increased their price objective on IonQ from $32.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Tuesday. DA Davidson cut IonQ from a “buy” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research report on Thursday, August 7th. Finally, Zacks Research cut IonQ from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, IonQ has a consensus rating of “Hold” and an average price target of $61.44.

IonQ 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.