MAI Capital Management Boosts Stake in IonQ, Inc. $IONQ

MAI Capital Management raised its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 92.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,051 shares of the company’s stock after buying an additional 2,900 shares during the period. MAI Capital Management’s holdings in IonQ were worth $260,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of IonQ by 15.2% in the second quarter. Vanguard Group Inc. now owns 24,767,446 shares of the company’s stock worth $1,064,257,000 after buying an additional 3,269,482 shares during the period. Geode Capital Management LLC grew its position in IonQ by 15.2% in the 2nd quarter. Geode Capital Management LLC now owns 5,338,456 shares of the company’s stock valued at $229,422,000 after acquiring an additional 705,301 shares during the last quarter. JPMorgan Chase & Co. increased its stake in IonQ by 648.5% in the second quarter. JPMorgan Chase & Co. now owns 2,674,348 shares of the company’s stock worth $114,917,000 after purchasing an additional 2,317,058 shares during the period. Bank of New York Mellon Corp increased its stake in IonQ by 34.9% in the second quarter. Bank of New York Mellon Corp now owns 1,139,217 shares of the company’s stock worth $48,952,000 after purchasing an additional 294,881 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of IonQ by 101.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 927,760 shares of the company’s stock worth $20,476,000 after purchasing an additional 467,084 shares during the last quarter. Institutional investors own 41.42% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. DA Davidson upped their price target on shares of IonQ from $35.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. began coverage on shares of IonQ in a research note on Thursday, November 20th. They issued a “neutral” rating and a $47.00 target price on the stock. Wolfe Research began coverage on shares of IonQ in a research report on Wednesday, July 30th. They set a “peer perform” rating on the stock. Oppenheimer initiated coverage on shares of IonQ in a research note on Wednesday, July 30th. They set an “outperform” rating for the company. Finally, Benchmark increased their price objective on IonQ from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $66.00.

Insider Buying and Selling at IonQ

In related news, Director William J. Teuber, Jr. purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The shares were acquired at an average cost of $54.81 per share, for a total transaction of $109,620.00. Following the acquisition, the director owned 6,413 shares of the company’s stock, valued at $351,496.53. The trade was a 45.32% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert T. Cardillo sold 8,773 shares of the business’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $50.52, for a total value of $443,211.96. Following the completion of the transaction, the insider directly owned 37,436 shares of the company’s stock, valued at approximately $1,891,266.72. The trade was a 18.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 213,622 shares of company stock worth $9,620,896. 5.20% of the stock is currently owned by company insiders.

IonQ Stock Performance

NYSE:IONQ opened at $46.87 on Thursday. IonQ, Inc. has a one year low of $17.88 and a one year high of $84.64. The firm has a market cap of $16.28 billion, a P/E ratio of -8.76 and a beta of 2.59. The firm has a 50-day simple moving average of $61.46 and a 200-day simple moving average of $48.73.

IonQ (NYSE:IONQ) last released its quarterly earnings data 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). The business had revenue of $39.87 million for the quarter, compared to the consensus estimate of $26.99 million. IonQ had a negative net margin of 1,836.32% and a negative return on equity of 127.06%. IonQ’s revenue for the quarter was up 221.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.24) earnings per share. IonQ has set its FY 2025 guidance at EPS. On average, research analysts predict that IonQ, Inc. will post -0.86 EPS for the current fiscal 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.