BI Asset Management Fondsmaeglerselskab A S Has $5.73 Million Stock Holdings in IonQ, Inc. $IONQ

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in IonQ by 16.9% in the fourth quarter, buying 18,499 more shares and bringing its total holding to 127,744 shares worth about $5.73 million.
• Analyst sentiment remains constructive overall: IonQ has an average rating of “Moderate Buy” with an average target price of $68.63, though some firms recently trimmed ratings or price targets.
• IonQ reported strong revenue growth in its latest quarter, with revenue rising 754.7% year over year to $64.67 million, but it still posted a loss of $0.34 per share, missing expectations.

BI Asset Management Fondsmaeglerselskab A S raised its position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 16.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,744 shares of the company's stock after purchasing an additional 18,499 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in IonQ were worth $5,732,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IONQ. Ameriflex Group Inc. grew its position in IonQ by 485.7% in the third quarter. Ameriflex Group Inc. now owns 410 shares of the company's stock valued at $25,000 after acquiring an additional 340 shares during the last quarter. Accent Capital Management LLC lifted its stake in IonQ by 171.8% in 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. Fortitude Family Office LLC boosted its position in IonQ by 3,800.0% in the fourth quarter. Fortitude Family Office LLC now owns 624 shares of the company's stock valued at $28,000 after buying an additional 608 shares in the last quarter. Beaird Harris Wealth Management LLC grew its stake in shares of IonQ by 117.4% during the third quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company's stock worth $31,000 after buying an additional 270 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of IonQ by 50.5% during the second quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company's stock worth $36,000 after buying an additional 279 shares during the last quarter. 41.42% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IONQ has been the topic of several recent research reports. Weiss Ratings upgraded IonQ from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Monday, May 11th. Rosenblatt Securities reiterated a "buy" rating and issued a $100.00 target price on shares of IonQ in a research report on Thursday, February 26th. Wall Street Zen raised IonQ from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 23rd. 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 report on Thursday, February 26th. Finally, Morgan Stanley set a $48.50 price objective on IonQ in a research note on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $68.63.

IonQ Price Performance

Shares of IONQ stock opened at $56.99 on Monday. The stock has a market capitalization of $21.27 billion, a PE ratio of -203.53 and a beta of 3.18. The business's 50 day simple moving average is $47.17 and its 200 day simple moving average is $44.16. IonQ, Inc. has a one year low of $25.89 and a one year high of $84.64.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly 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). IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The firm had revenue of $64.67 million during the quarter, compared to analyst estimates of $49.75 million. During the same quarter last year, the firm posted ($0.14) EPS. The firm's revenue for the quarter was up 754.7% on a year-over-year basis. As a group, research analysts expect that IonQ, Inc. will post -2.26 earnings per share for the current year.

Insider Activity at IonQ

In other IonQ news, insider John W. Raymond sold 2,800 shares of IonQ stock in a transaction 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 sale, the insider directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert T. Cardillo sold 3,773 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total transaction of $188,272.70. Following the transaction, the insider directly owned 139,967 shares in the company, valued at $6,984,353.30. This trade represents a 2.62% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 5.20% of the company's stock.

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.

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).

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.