Mirae Asset Global Investments Co. Ltd. Acquires New Position in IonQ, Inc. $IONQ

Mirae Asset Global Investments Co. Ltd. bought a new position in IonQ, Inc. (NYSE:IONQ) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 33,110 shares of the company’s stock, valued at approximately $2,036,000.

A number of other institutional investors and hedge funds have also bought and sold shares of IONQ. Stone House Investment Management LLC lifted its holdings in shares of IonQ by 700.0% in the 3rd quarter. Stone House Investment Management LLC now owns 400 shares of the company’s stock worth $25,000 after acquiring an additional 350 shares during the last quarter. Hilltop National Bank grew its position in IonQ by 112.5% during the 3rd quarter. Hilltop National Bank now owns 425 shares of the company’s stock worth $26,000 after acquiring an additional 225 shares during the last quarter. Financial Consulate Inc. purchased a new position in IonQ in the 3rd quarter worth approximately $29,000. Archer Investment Corp grew its stake in shares of IonQ by 119.3% in the second quarter. Archer Investment Corp now owns 592 shares of the company’s stock worth $25,000 after purchasing an additional 322 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. bought a new stake in shares of IonQ in the 3rd quarter worth approximately $49,000. 41.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on IONQ. Zacks Research upgraded IonQ from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of IonQ in a research note on Thursday, January 22nd. JPMorgan Chase & Co. began coverage on shares of IonQ in a report on Thursday, November 20th. They set a “neutral” rating and a $47.00 price target on the stock. Wedbush started coverage on shares of IonQ in a report on Wednesday, December 17th. They issued an “outperform” rating and a $60.00 price objective for the company. Finally, Mizuho began coverage on IonQ in a research report on Thursday, December 11th. They issued an “outperform” rating and a $90.00 price objective on the stock. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, IonQ presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.91.

Insider Transactions at IonQ

In other IonQ news, Director William J. Teuber, Jr. acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was purchased at an average price of $54.81 per share, with a total value of $109,620.00. Following the transaction, the director directly owned 6,413 shares in the company, valued at approximately $351,496.53. The trade was a 45.32% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Rima Alameddine sold 100,000 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $46.89, for a total value of $4,689,000.00. Following the completion of the sale, the executive owned 432,616 shares of the company’s stock, valued at $20,285,364.24. This trade represents a 18.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 125,000 shares of company stock worth $5,992,000 in the last 90 days. 5.20% of the stock is currently owned by insiders.

IonQ Stock Performance

Shares of NYSE:IONQ opened at $38.45 on Wednesday. IonQ, Inc. has a 52-week low of $17.88 and a 52-week high of $84.64. The stock has a market capitalization of $13.36 billion, a price-to-earnings ratio of -7.19 and a beta of 2.63. The stock’s 50-day simple moving average is $48.21 and its two-hundred day simple moving average is $51.39.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($3.58) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($3.14). The business had revenue of $39.87 million during the quarter, compared to the consensus estimate of $26.99 million. IonQ had a negative return on equity of 127.06% and a negative net margin of 1,836.32%.IonQ’s revenue for the quarter was up 221.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.24) EPS. As a group, equities analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

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.