IonQ, Inc. $IONQ Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of IonQ, Inc. (NYSE:IONQ) by 45.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,632,290 shares of the company’s stock after acquiring an additional 506,191 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.43% of IonQ worth $86,936,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Monetta Financial Services Inc. purchased a new stake in shares of IonQ in the second quarter valued at about $1,012,000. Nissay Asset Management Corp Japan increased its stake in shares of IonQ by 14.2% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 44,064 shares of the company’s stock worth $2,347,000 after purchasing an additional 5,483 shares in the last quarter. Navellier & Associates Inc. raised its position in shares of IonQ by 21.6% during the 2nd quarter. Navellier & Associates Inc. now owns 23,365 shares of the company’s stock worth $1,244,000 after purchasing an additional 4,145 shares during the last quarter. Archer Investment Corp acquired a new position in shares of IonQ during the 2nd quarter worth approximately $25,000. Finally, Kingsview Wealth Management LLC purchased a new stake in IonQ in the 2nd quarter valued at approximately $583,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on IONQ shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $70.00 target price on shares of IonQ in a report on Thursday, August 6th. Benchmark reissued a “buy” rating and issued a $60.00 price target on shares of IonQ in a report on Thursday, August 6th. Wedbush started coverage on IonQ in a research report on Monday, August 3rd. They issued an “outperform” rating and a $75.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on IonQ from $42.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Jefferies Financial Group set a $75.00 price objective on 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.92.

Insider Activity at IonQ

In other IonQ news, Director Gabrielle B. Toledano sold 2,757 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $55.01, for a total transaction of $151,662.57. Following the completion of the sale, the director directly owned 11,154 shares in the company, valued at $613,581.54. This represents a 19.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John W. Raymond sold 3,815 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $55.01, for a total value of $209,863.15. Following the completion of the transaction, the insider owned 80,148 shares in the company, valued at approximately $4,408,941.48. This trade represents a 4.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 9,329 shares of company stock worth $513,216. 0.55% of the stock is owned by insiders.

IonQ Stock Down 0.3%

NYSE:IONQ opened at $37.65 on Thursday. The company has a market cap of $14.35 billion, a P/E ratio of -8.08 and a beta of 3.30. IonQ, Inc. has a fifty-two week low of $25.89 and a fifty-two week high of $84.64. The firm’s 50 day moving average is $41.66 and its two-hundred day moving average is $43.52.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.23. The company had revenue of $80.05 million during the quarter, compared to analysts’ expectations of $66.47 million. IonQ had a negative net margin of 553.27% and a negative return on equity of 22.29%. The business’s quarterly revenue was up 286.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.70) EPS. Research analysts forecast that IonQ, Inc. will post -2.86 earnings per share 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. 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.