Equitable Holdings Inc. Invests $1.36 Million in IonQ, Inc. $IONQ

Equitable Holdings Inc. bought a new stake in IonQ, Inc. (NYSE:IONQ) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 25,470 shares of the company’s stock, valued at approximately $1,357,000.

A number of other large investors have also recently bought and sold shares of IONQ. Royal Bank of Canada raised its position in IonQ by 12.5% during the 1st quarter. Royal Bank of Canada now owns 134,176 shares of the company’s stock worth $2,962,000 after buying an additional 14,898 shares during the last quarter. Amundi acquired a new stake in IonQ during the 1st quarter valued at approximately $630,000. AQR Capital Management LLC boosted its holdings in shares of IonQ by 106.2% in the 1st quarter. AQR Capital Management LLC now owns 57,305 shares of the company’s stock valued at $1,265,000 after acquiring an additional 29,513 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of IonQ by 24.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 450,031 shares of the company’s stock valued at $9,932,000 after acquiring an additional 87,428 shares during the last quarter. Finally, Focus Partners Wealth increased its stake in shares of IonQ by 30.3% in the first quarter. Focus Partners Wealth now owns 46,782 shares of the company’s stock worth $1,032,000 after acquiring an additional 10,881 shares during the period. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Trading Down 7.7%

Shares of IONQ stock opened at $39.18 on Friday. IonQ, Inc. has a 12-month low of $25.89 and a 12-month high of $84.64. The business’s 50 day moving average is $42.75 and its two-hundred day moving average is $43.36. The company has a market capitalization of $14.93 billion, a P/E ratio of -8.41 and a beta of 3.28.

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

Insider Buying and Selling

In related news, Director Kathryn K. Chou sold 2,757 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $55.02, for a total value of $151,690.14. Following the completion of the sale, the director owned 62,608 shares of the company’s stock, valued at approximately $3,444,692.16. The trade was a 4.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John W. Raymond sold 3,815 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $55.01, for a total transaction of $209,863.15. Following the transaction, the insider owned 80,148 shares of the company’s stock, valued at $4,408,941.48. This represents a 4.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 9,329 shares of company stock valued at $513,216. 0.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on IONQ shares. Wall Street Zen cut shares of IonQ from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Benchmark reaffirmed a “buy” rating and issued a $60.00 price target on shares of IonQ in a report on Thursday, August 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price target on shares of IonQ in a research report on Thursday, August 6th. Weiss Ratings lowered IonQ from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Friday, August 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 price objective on shares of IonQ in a report on Thursday, August 6th. Nine equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.92.

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.