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ABN Amro Investment Solutions Takes $539,000 Position in IonQ, Inc. $IONQ

IonQ logo with Computer and Technology background
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Key Points

  • ABN Amro Investment Solutions disclosed a new fourth-quarter stake in IonQ, buying 12,019 shares valued at about $539,000.
  • Institutional interest in IonQ remains high, with multiple investors recently adding positions and 41.42% of the stock now owned by institutions.
  • Wall Street sentiment is still broadly positive: analysts rate IonQ as a Moderate Buy with a consensus price target of $68.63, even as the company reported a wider-than-expected quarterly loss and strong revenue growth.
  • MarketBeat previews top five stocks to own in June.

ABN Amro Investment Solutions acquired a new stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 12,019 shares of the company's stock, valued at approximately $539,000.

Other institutional investors have also recently modified their holdings of the company. Ameriflex Group Inc. increased its position in shares of IonQ by 485.7% during the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company's stock valued at $25,000 after purchasing an additional 340 shares during the last quarter. UMB Bank n.a. bought a new position in IonQ during the 3rd quarter worth approximately $31,000. Beaird Harris Wealth Management LLC grew its position in IonQ by 117.4% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company's stock worth $31,000 after acquiring an additional 270 shares during the last quarter. Kelleher Financial Advisors bought a new position in IonQ during the 3rd quarter worth approximately $36,000. Finally, Fortitude Family Office LLC grew its position in IonQ by 3,800.0% during the 4th quarter. Fortitude Family Office LLC now owns 624 shares of the company's stock worth $28,000 after acquiring an additional 608 shares during the last quarter. 41.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IONQ shares. Weiss Ratings upgraded IonQ from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Monday, May 11th. Wedbush restated an "outperform" rating and set a $60.00 price target on shares of IonQ in a research report on Monday, May 4th. Jefferies Financial Group set a $85.00 price target on IonQ in a research report on Thursday, May 7th. Needham & Company LLC reduced their price target on IonQ from $80.00 to $65.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. Finally, Northland Securities started coverage on IonQ in a research report on Monday, April 20th. They set an "outperform" rating and a $55.00 price target on the stock. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $68.63.

View Our Latest Report on IonQ

IonQ Stock Performance

NYSE IONQ opened at $63.54 on Monday. IonQ, Inc. has a fifty-two week low of $25.89 and a fifty-two week high of $84.64. The stock has a 50 day simple moving average of $40.37 and a two-hundred day simple moving average of $43.17. The stock has a market cap of $23.72 billion, a P/E ratio of -226.93 and a beta of 3.05.

IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.08). The business had revenue of $64.67 million during the quarter, compared to analysts' expectations of $49.75 million. IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The company's quarterly revenue was up 754.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.14) EPS. Sell-side analysts predict that IonQ, Inc. will post -2.26 earnings per share for the current year.

Key Headlines Impacting IonQ

Here are the key news stories impacting IonQ this week:

Insider Activity

In other news, Director William J. Teuber, Jr. bought 3,000 shares of the stock in a transaction dated Friday, February 27th. The stock was bought at an average price of $38.38 per share, for a total transaction of $115,140.00. Following the purchase, the director directly owned 9,413 shares in the company, valued at $361,270.94. This trade represents a 46.78% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John W. Raymond sold 2,800 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $33.34, for a total value of $93,352.00. Following the completion of the transaction, the insider owned 83,963 shares of the company's stock, valued at approximately $2,799,326.42. The trade was a 3.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 12,354 shares of company stock worth $504,428 in the last quarter. 5.20% of the stock is owned by company insiders.

About IonQ

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding IONQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IonQ, Inc. (NYSE:IONQ - Free Report).

Institutional Ownership by Quarter for IonQ (NYSE:IONQ)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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