Arista Wealth Management LLC Purchases Shares of 8,043 IonQ, Inc. $IONQ

Key Points

• Arista Wealth Management opened a new position in IonQ, buying 8,043 shares valued at about $361,000 in the fourth quarter.
• Institutional ownership in IonQ remains high, with several firms increasing their stakes and 41.42% of the stock now held by institutional investors.
• IonQ reported strong revenue growth in its latest quarter, but still posted a loss: revenue rose 754.7% year over year to $64.67 million, while EPS came in at ($0.34), missing estimates.

Arista Wealth Management LLC purchased a new stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 8,043 shares of the company's stock, valued at approximately $361,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IONQ. Kingsview Wealth Management LLC lifted its position in shares of IonQ by 22.0% during the 4th quarter. Kingsview Wealth Management LLC now owns 9,953 shares of the company's stock valued at $447,000 after acquiring an additional 1,794 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of IonQ by 21.9% during the 4th quarter. Geode Capital Management LLC now owns 8,074,301 shares of the company's stock valued at $361,624,000 after acquiring an additional 1,452,463 shares during the last quarter. Bleakley Financial Group LLC lifted its position in shares of IonQ by 2.0% during the 4th quarter. Bleakley Financial Group LLC now owns 20,391 shares of the company's stock valued at $915,000 after acquiring an additional 391 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of IonQ by 15.5% during the 4th quarter. Harbour Investments Inc. now owns 8,976 shares of the company's stock valued at $403,000 after acquiring an additional 1,206 shares during the last quarter. Finally, Allstate Corp acquired a new stake in shares of IonQ during the 4th quarter valued at $1,002,000. 41.42% of the stock is owned by institutional investors.

IonQ Stock Up 3.0%

IONQ opened at $65.56 on Thursday. The stock has a fifty day moving average of $42.23 and a 200-day moving average of $43.36. The firm has a market capitalization of $24.47 billion, a P/E ratio of -234.14 and a beta of 3.05. 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 released its earnings results on Wednesday, May 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 net margin of 174.88% and a negative return on equity of 23.20%. IonQ's revenue for the quarter was up 754.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.14) EPS. On average, analysts expect that IonQ, Inc. will post -2.26 earnings per share for the current fiscal year.

Insider Activity

In other IonQ news, Director William J. Teuber, Jr. bought 3,000 shares of IonQ 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 completion of the acquisition, the director directly owned 9,413 shares of the company's stock, valued at approximately $361,270.94. This trade represents a 46.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert T. Cardillo sold 3,773 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $49.90, for a total value of $188,272.70. Following the completion of the sale, the insider owned 139,967 shares of the company's stock, valued at $6,984,353.30. The trade was a 2.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 5.20% of the company's stock.

Key IonQ News

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: Investors are bidding up quantum stocks after the U.S. Department of Commerce announced $2.013 billion in CHIPS Act grants to nine quantum computing companies, which is seen as a major validation for the industry and a potential tailwind for IonQ. Article title: QTUM ETF Crosses $5 Billion Even As IBM, Rigetti, IonQ, D-Wave Cool Off
• Positive Sentiment: IonQ is benefiting from renewed attention on quantum computing and speculation that it could be a future beneficiary of the government’s broader quantum technology push, helping support the stock. Article title: What Is Going On With IonQ Stock On Tuesday?
• Neutral Sentiment: Coverage on “why quantum hype returned” reinforces the sector’s momentum, but it appears to be more about a broad sentiment shift than a direct operational catalyst for IonQ. Article title: IonQ: Why Quantum Hype Returned
• Negative Sentiment: One analyst-style comparison argued that QBTS may have stronger June upside than IonQ because of faster bookings growth, rising enterprise adoption, and more attractive implied gains, which could shift some investor attention away from IONQ. Article title: IONQ vs. QBTS: Which Quantum Stock Has More Upside Potential in June?
• Negative Sentiment: Some commentary warns that the IonQ story could get messier after SkyWater developments, suggesting execution and competitive concerns may create volatility for the stock. Article title: IonQ: Quantum Story May Get Messier After SkyWater

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IONQ. 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 report on Thursday, May 7th. Needham & Company LLC cut their price objective on IonQ from $80.00 to $65.00 and set a "buy" rating for the company in a research report on Thursday, February 26th. Rosenblatt Securities reiterated a "buy" rating and set a $100.00 price objective on shares of IonQ in a research report on Thursday, February 26th. Wall Street Zen upgraded IonQ from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 23rd. Finally, Wedbush reiterated an "outperform" rating and set a $60.00 price objective on shares of IonQ in a research report on Monday, May 4th. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $68.63.

About IonQ

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.

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