Jupiter Topco LLC Buys New Shares in IonQ, Inc. $IONQ

Jupiter Topco LLC purchased a new position in shares of IonQ, Inc. (NYSE:IONQ) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 104,768 shares of the company’s stock, valued at approximately $5,581,000.

A number of other large investors also recently bought and sold shares of the stock. Hsbc Holdings PLC acquired a new position in shares of IonQ in the 2nd quarter valued at $8,154,000. EFG International AG acquired a new stake in shares of IonQ during the 2nd quarter worth $30,000. Ancora Advisors LLC acquired a new stake in shares of IonQ during the 2nd quarter worth $394,000. Canada Pension Plan Investment Board purchased a new position in shares of IonQ in the 2nd quarter worth $655,000. Finally, Castleark Management LLC purchased a new position in shares of IonQ in the 2nd quarter worth $4,597,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Insiders Place Their Bets

In other IonQ news, insider John W. Raymond sold 3,815 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $55.01, for a total value of $209,863.15. Following the completion of the sale, the insider owned 80,148 shares of the company’s stock, valued at $4,408,941.48. This trade represents a 4.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathryn K. Chou sold 2,757 shares of IonQ stock in a transaction that occurred 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 sale, the director owned 62,608 shares in the company, valued at $3,444,692.16. This represents a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,329 shares of company stock worth $513,216 in the last 90 days. 0.55% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on IONQ shares. Jefferies Financial Group set a $75.00 price target on IonQ in a research report on Thursday, August 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 price objective on shares of IonQ in a report on Thursday, August 6th. Wall Street Zen lowered IonQ from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 target price on shares of IonQ in a report on Thursday, August 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $65.00 target price on shares of IonQ in a research report on Thursday, August 6th. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.92.

IonQ Price Performance

Shares of IONQ opened at $39.31 on Tuesday. The stock’s 50-day moving average is $42.37 and its two-hundred day moving average is $43.45. The stock has a market cap of $14.98 billion, a PE ratio of -8.44 and a beta of 3.28. IonQ, Inc. has a 12 month low of $25.89 and a 12 month high of $84.64.

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

IonQ Company 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.