B. Metzler seel. Sohn & Co. AG Acquires New Stake in IonQ, Inc. $IONQ

B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 20,990 shares of the company's stock, valued at approximately $1,118,000.

Other hedge funds have also added to or reduced their stakes in the company. Accent Capital Management LLC grew its position in IonQ by 171.8% during the 4th quarter. Accent Capital Management LLC now owns 587 shares of the company's stock valued at $26,000 after purchasing an additional 371 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of IonQ by 216.5% during the first quarter. EverSource Wealth Advisors LLC now owns 959 shares of the company's stock valued at $28,000 after buying an additional 656 shares during the last quarter. PeakShares LLC purchased a new stake in shares of IonQ during the first quarter valued at approximately $29,000. Beaird Harris Wealth Management LLC raised its holdings in IonQ by 117.4% in 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. Finally, MWA Asset Management purchased a new position in IonQ in the 1st quarter worth approximately $32,000. 41.42% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on IONQ shares. Wedbush began coverage on IonQ in a research note on Monday, August 3rd. They set an "outperform" rating and a $75.00 target price on the stock. Needham & Company LLC restated a "buy" rating and issued a $65.00 price target on shares of IonQ in a research note on Thursday, August 6th. Wall Street Zen downgraded IonQ from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 price objective on shares of IonQ in a research report on Thursday, August 6th. Finally, Northland Securities lifted their price objective on IonQ from $55.00 to $70.00 and gave the stock an "outperform" rating in a report on Monday, June 22nd. 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's stock. According to MarketBeat, IonQ presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.92.

IonQ Price Performance

NYSE IONQ opened at $44.95 on Monday. The business's fifty day moving average price is $44.36 and its 200-day moving average price is $43.21. The stock has a market capitalization of $17.13 billion, a price-to-earnings ratio of -9.65 and a beta of 3.28. IonQ, Inc. has a 1-year low of $25.89 and a 1-year high of $84.64.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate 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 company had revenue of $80.05 million during the quarter, compared to analyst estimates of $66.47 million. During the same quarter in the previous year, the company posted ($0.70) earnings per share. IonQ's revenue was up 286.7% compared to the same quarter last year. Equities research analysts anticipate that IonQ, Inc. will post -2.86 EPS for the current year.

Insider Buying and Selling

In related news, Director Gabrielle B. Toledano sold 2,757 shares of the business's stock in a transaction that occurred on Thursday, June 18th. The shares were 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 approximately $613,581.54. The trade was a 19.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kathryn K. Chou sold 2,757 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $55.02, for a total transaction of $151,690.14. Following the sale, the director directly owned 62,608 shares of the company's stock, valued at approximately $3,444,692.16. This represents a 4.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 9,329 shares of company stock valued at $513,216. 0.55% of the stock is owned by insiders.

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.

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