Ilmarinen Mutual Pension Insurance Co Makes New Investment in IonQ, Inc. $IONQ

Ilmarinen Mutual Pension Insurance Co bought a new position in IonQ, Inc. (NYSE:IONQ) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 63,058 shares of the company’s stock, valued at approximately $2,829,000.

Other large investors have also added to or reduced their stakes in the company. Ameriflex Group Inc. lifted its holdings in IonQ by 485.7% during the third quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock valued at $25,000 after purchasing an additional 340 shares in the last quarter. UMB Bank n.a. purchased a new position in shares of IonQ in the third quarter worth $31,000. Beaird Harris Wealth Management LLC boosted its position in shares of IonQ by 117.4% during the third quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock worth $31,000 after acquiring an additional 270 shares during the last quarter. Accent Capital Management LLC boosted 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 during the last quarter. Finally, Kelleher Financial Advisors bought a new position in shares of IonQ during the third quarter worth $36,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on IONQ shares. Wedbush restated an “outperform” rating and set a $60.00 target price on shares of IonQ in a research report on Monday, May 4th. Northland Securities assumed coverage on IonQ in a research note on Monday, April 20th. They issued an “outperform” rating and a $55.00 price objective on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of IonQ in a research note on Thursday, February 26th. JPMorgan Chase & Co. lifted their price objective on IonQ from $42.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Needham & Company LLC reduced their price objective on IonQ from $80.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.63.

Insider Activity at IonQ

In other IonQ news, insider Robert T. Cardillo sold 3,773 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total value of $188,272.70. Following the completion of the sale, the insider directly owned 139,967 shares in the company, valued at approximately $6,984,353.30. This represents a 2.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John W. Raymond sold 2,800 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $33.34, for a total value of $93,352.00. Following the completion of the sale, the insider owned 83,963 shares of the company’s stock, valued at $2,799,326.42. This represents a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 5.20% of the company’s stock.

IonQ Stock Performance

NYSE IONQ opened at $72.07 on Friday. The company has a market cap of $26.90 billion, a P/E ratio of -257.38 and a beta of 3.05. The business’s 50 day moving average price is $43.76 and its 200-day moving average price is $43.63. IonQ, Inc. has a fifty-two week low of $25.89 and a fifty-two week high of $84.64.

IonQ (NYSE:IONQ) last released its earnings results 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). The company had revenue of $64.67 million for the quarter, compared to the consensus estimate of $49.75 million. IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The business’s revenue for the quarter was up 754.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.14) EPS. As a group, equities analysts predict that IonQ, Inc. will post -2.26 EPS for the current year.

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. 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.