IonQ, Inc. $IONQ Shares Sold by KBC Group NV

KBC Group NV lessened its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 26.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,164 shares of the company’s stock after selling 2,205 shares during the quarter. KBC Group NV’s holdings in IonQ were worth $265,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in IONQ. SBI Securities Co. Ltd. increased its stake in IonQ by 32.6% during the 2nd quarter. SBI Securities Co. Ltd. now owns 175,237 shares of the company’s stock worth $7,530,000 after buying an additional 43,078 shares during the period. Fagan Associates Inc. acquired a new position in shares of IonQ in the second quarter worth $284,000. Weil Company Inc. purchased a new stake in shares of IonQ during the second quarter worth $258,000. Allworth Financial LP increased its position in shares of IonQ by 19.1% during the second quarter. Allworth Financial LP now owns 4,386 shares of the company’s stock worth $188,000 after acquiring an additional 704 shares during the period. Finally, ProShare Advisors LLC raised its stake in shares of IonQ by 10.1% in the second quarter. ProShare Advisors LLC now owns 49,136 shares of the company’s stock valued at $2,111,000 after acquiring an additional 4,514 shares in the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Analyst Ratings Changes

IONQ has been the topic of several recent research reports. Benchmark upped their price target on IonQ from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. DA Davidson boosted their price objective on IonQ from $35.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IonQ in a report on Wednesday, October 8th. Rosenblatt Securities lifted their price target on shares of IonQ from $70.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, Zacks Research upgraded shares of IonQ from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.11.

IonQ Stock Performance

Shares of NYSE IONQ opened at $49.26 on Wednesday. The stock’s 50-day simple moving average is $62.69 and its 200-day simple moving average is $48.23. The firm has a market capitalization of $17.11 billion, a PE ratio of -9.21 and a beta of 2.59. IonQ, Inc. has a fifty-two week low of $17.88 and a fifty-two week high of $84.64.

IonQ (NYSE:IONQ) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($3.14). IonQ had a negative net margin of 1,836.32% and a negative return on equity of 127.06%. The business had revenue of $39.87 million during the quarter, compared to analyst estimates of $26.99 million. During the same period last year, the company earned ($0.24) earnings per share. The business’s revenue for the quarter was up 221.5% compared to the same quarter last year. IonQ has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Insider Transactions at IonQ

In other IonQ news, CRO Rima Alameddine sold 19,976 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $44.40, for a total value of $886,934.40. Following the completion of the transaction, the executive owned 532,616 shares in the company, valued at $23,648,150.40. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robert T. Cardillo sold 8,773 shares of IonQ stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $50.52, for a total value of $443,211.96. Following the sale, the insider owned 37,436 shares in the company, valued at $1,891,266.72. This trade represents a 18.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 113,622 shares of company stock worth $4,931,896. Insiders own 5.20% of the company’s stock.

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.