Danske Bank A S Takes $8.95 Million Position in IonQ, Inc. $IONQ

Danske Bank A S bought a new stake in IonQ, Inc. (NYSE:IONQ) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 168,000 shares of the company’s stock, valued at approximately $8,948,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in IonQ by 12.5% during the first quarter. Royal Bank of Canada now owns 134,176 shares of the company’s stock worth $2,962,000 after buying an additional 14,898 shares during the period. Amundi acquired a new stake in shares of IonQ during the first quarter worth about $630,000. AQR Capital Management LLC lifted its stake in shares of IonQ by 106.2% in the 1st quarter. AQR Capital Management LLC now owns 57,305 shares of the company’s stock worth $1,265,000 after acquiring an additional 29,513 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of IonQ by 24.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 450,031 shares of the company’s stock worth $9,932,000 after purchasing an additional 87,428 shares in the last quarter. Finally, Focus Partners Wealth increased 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 in the last quarter. 41.42% of the stock is owned by hedge funds and other institutional investors.

IonQ Stock Performance

IONQ opened at $44.95 on Friday. The company has a market capitalization of $17.13 billion, a PE ratio of -9.65 and a beta of 3.28. The stock’s fifty day moving average is $44.36 and its 200-day moving average is $43.17. IonQ, Inc. has a one year low of $25.89 and a one year high of $84.64.

IonQ (NYSE:IONQ) last released its earnings results on Wednesday, August 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.23. IonQ had a negative return on equity of 22.29% and a negative net margin of 553.27%.The firm had revenue of $80.05 million for the quarter, compared to analyst estimates of $66.47 million. During the same period in the previous year, the company earned ($0.70) earnings per share. IonQ’s revenue was up 286.7% compared to the same quarter last year. On average, equities research analysts forecast that IonQ, Inc. will post -2.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on IONQ shares. Cantor Fitzgerald reissued an “overweight” rating and set a $70.00 price objective on shares of IonQ in a research note on Thursday, August 6th. Morgan Stanley set a $49.00 price objective on IonQ in a research report on Thursday, August 6th. Wedbush started coverage on IonQ in a research note on Monday, August 3rd. They issued an “outperform” rating and a $75.00 target price for the company. Northland Securities upped their target price on shares of IonQ from $55.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, June 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price objective on shares of IonQ in a research report on Thursday, August 6th. Nine equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, IonQ currently has a consensus rating of “Moderate Buy” and an average price target of $69.92.

Insider Activity at IonQ

In other news, Director Kathryn K. Chou sold 2,757 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $55.02, for a total transaction of $151,690.14. Following the completion of the sale, the director owned 62,608 shares in the company, valued at approximately $3,444,692.16. This represents a 4.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gabrielle B. Toledano sold 2,757 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $55.01, for a total value of $151,662.57. Following the sale, the director directly owned 11,154 shares of the company’s stock, valued at approximately $613,581.54. This represents a 19.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 9,329 shares of company stock valued at $513,216 over the last ninety days. Insiders own 0.55% of the company’s stock.

About IonQ

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.