107,625 Shares in IonQ, Inc. $IONQ Bought by Nykredit A S

Key Points

• Nykredit A S purchased 107,625 IonQ shares during the second quarter, valued at approximately $5.7 million. Several other major institutions also initiated or increased positions, with institutional investors collectively owning 41.42% of the company.
• Analysts maintain a generally positive outlook, with nine Buy ratings, four Holds and one Sell. IonQ has an average “Moderate Buy” rating and a consensus price target of $64.18.
• IonQ reported better-than-expected quarterly results, including a $0.33 adjusted loss per share versus the $0.56 consensus loss and revenue of $80.05 million, up 286.7% year over year. Despite strong growth, the company remains unprofitable, with a negative net margin of 553.27%.

Nykredit A S purchased a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 107,625 shares of the company's stock, valued at approximately $5,732,000.

A number of other large investors have also modified their holdings of IONQ. BlackRock Inc. acquired a new position in shares of IonQ during the second quarter valued at $1,112,945,000. Bank of America Corp DE acquired a new stake in IonQ in the second quarter worth about $344,757,000. Norges Bank bought a new position in IonQ in the 4th quarter valued at about $199,753,000. Clear Street Group Inc. grew its position in IonQ by 219.6% in the 4th quarter. Clear Street Group Inc. now owns 3,195,818 shares of the company's stock valued at $143,396,000 after buying an additional 2,196,017 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in IonQ during the 2nd quarter valued at about $113,863,000. Institutional investors and hedge funds own 41.42% of the company's stock.

Wall Street Analyst Weigh In

IONQ has been the topic of a number of research analyst reports. Rosenblatt Securities reiterated a "buy" rating and set a $100.00 price objective on shares of IonQ in a research note on Wednesday, September 9th. Morgan Stanley set a $49.00 price objective on IonQ in a research note on Thursday, August 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $65.00 target price on shares of IonQ in a research note on Wednesday, September 9th. Weiss Ratings lowered IonQ from a "sell (d+)" rating to a "sell (d-)" rating in a report on Friday, August 21st. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $80.00 price target on shares of IonQ in a report on Wednesday, September 9th. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $64.18.

Insiders Place Their Bets

In other news, insider John Raymond sold 2,407 shares of the company's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $37.21, for a total transaction of $89,564.47. Following the completion of the transaction, the insider owned 77,741 shares of the company's stock, valued at approximately $2,892,742.61. This represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.55% of the stock is currently owned by insiders.

IonQ Stock Up 3.3%

IONQ opened at $40.42 on Tuesday. The firm has a market capitalization of $15.40 billion, a P/E ratio of -8.67 and a beta of 3.30. The stock has a fifty day moving average of $39.23 and a 200-day moving average of $43.88. IonQ, Inc. has a 12-month low of $25.89 and a 12-month high of $84.64.

IonQ (NYSE:IONQ - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.33) EPS for the quarter, topping analysts' consensus estimates of ($0.56) by $0.23. The firm had revenue of $80.05 million during the quarter, compared to analyst estimates of $66.47 million. IonQ had a negative return on equity of 22.29% and a negative net margin of 553.27%.The business's quarterly revenue was up 286.7% compared to the same quarter last year. During the same period last year, the company posted ($0.70) EPS. On average, analysts expect that IonQ, Inc. will post -2.11 earnings per share for the current fiscal year.

Key Stories Impacting IonQ

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: Asia-Pacific expansion: IonQ announced a multiyear strategic partnership with South Korea-based SDT. IonQ will supply a Superion 256 quantum computer and a silicon-vacancy quantum memory module, expanding its presence in both quantum computing and networking across the region. The agreement also signals growing demand for IonQ’s newer systems. IonQ and SDT Announce the First Strategic Partnership
• Positive Sentiment: Commercial technology validation: IonQ and Synopsys reported engineering simulations running up to 14.6% faster, supporting the potential practical benefits of IonQ’s quantum-computing platform and its relationships with established enterprise software companies. IonQ and Synopsys Report Up to 14.6% Faster Engineering Simulations
• Positive Sentiment: Public-sector focus: IonQ hired former IBM executive Charles Robinson as its first public-sector quantum security chief. The appointment could strengthen the company’s efforts to win government and national-security contracts. IonQ Taps Former IBM Executive

About IonQ

IonQ, Inc is a quantum computing company that develops and commercializes quantum computers based on trapped-ion technology. Its systems are designed to perform specialized computations that may be difficult for classical computers, with potential applications in areas such as optimization, materials science, drug discovery, artificial intelligence and financial modeling.

The company provides access to its quantum processors through cloud platforms, including Amazon Web Services' Amazon Braket, Microsoft Azure Quantum and Google Cloud.

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