200,000 Shares in IonQ, Inc. $IONQ Purchased by Raiffeisen Bank International AG

Raiffeisen Bank International AG acquired a new stake in IonQ, Inc. (NYSE:IONQ) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 200,000 shares of the company’s stock, valued at approximately $10,776,000.

Several other institutional investors have also added to or reduced their stakes in IONQ. BlackRock Inc. bought a new position in IonQ during the second quarter worth about $1,112,945,000. State Street Corp increased its stake in shares of IonQ by 42.3% in the fourth quarter. State Street Corp now owns 8,962,789 shares of the company’s stock worth $402,160,000 after purchasing an additional 2,663,230 shares in the last quarter. Geode Capital Management LLC raised its position in shares of IonQ by 21.9% in the fourth quarter. Geode Capital Management LLC now owns 8,074,301 shares of the company’s stock valued at $361,624,000 after purchasing an additional 1,452,463 shares during the period. Bank of America Corp DE bought a new stake in shares of IonQ in the second quarter valued at approximately $344,757,000. Finally, Norges Bank bought a new stake in shares of IonQ in the fourth quarter valued at approximately $199,753,000. 41.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

IONQ has been the subject of several analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of IonQ in a report on Thursday, August 6th. Jefferies Financial Group set a $75.00 target price on shares of IonQ in a report on Thursday, August 6th. Northland Securities raised their price target on IonQ from $55.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. 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 report on Thursday, May 7th. Finally, Weiss Ratings cut IonQ from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.92.

IonQ Trading Up 3.9%

IONQ stock opened at $39.12 on Friday. The firm has a 50 day moving average of $41.44 and a 200-day moving average of $43.56. IonQ, Inc. has a 12 month low of $25.89 and a 12 month high of $84.64. The firm has a market capitalization of $14.90 billion, a P/E ratio of -8.39 and a beta of 3.30.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.23. The company had revenue of $80.05 million during the quarter, compared to analysts’ expectations of $66.47 million. IonQ had a negative net margin of 553.27% and a negative return on equity of 22.29%. IonQ’s revenue for the quarter was up 286.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.70) earnings per share. Sell-side analysts predict that IonQ, Inc. will post -2.86 EPS for the current year.

Insider Buying and Selling at IonQ

In other news, Director Kathryn Chou sold 2,757 shares of the business’s 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 in the company, valued at $3,444,692.16. The trade was a 4.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gabrielle Toledano sold 2,757 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $55.01, for a total transaction of $151,662.57. Following the transaction, the director owned 11,154 shares of the company’s stock, valued at $613,581.54. This trade represents a 19.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,329 shares of company stock valued at $513,216 in the last three months. Company insiders own 0.55% of the company’s stock.

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.