BlackRock Inc. Buys Shares of 20,896,455 IonQ, Inc. $IONQ

BlackRock Inc. purchased a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 20,896,455 shares of the company's stock, valued at approximately $1,112,945,000. BlackRock Inc. owned 5.60% of IonQ at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in IONQ. Accent Capital Management LLC raised its stake 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 acquiring an additional 371 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake 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 purchasing an additional 656 shares in the last quarter. PeakShares LLC acquired a new stake in IonQ in the first quarter worth about $29,000. Beaird Harris Wealth Management LLC lifted its holdings in IonQ by 117.4% in the third quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company's stock worth $31,000 after purchasing an additional 270 shares during the period. Finally, MWA Asset Management bought a new position in IonQ in the 1st quarter valued at about $32,000. Institutional investors own 41.42% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on IONQ shares. Weiss Ratings restated a "sell (d+)" rating on shares of IonQ in a research report on Friday, August 7th. Jefferies Financial Group set a $75.00 price objective on shares of IonQ in a research note on Thursday, August 6th. Morgan Stanley set a $49.00 target price on IonQ in a report on Thursday, August 6th. JPMorgan Chase & Co. lifted their price target on IonQ from $42.00 to $50.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $100.00 price target on shares of IonQ in a report on Thursday, August 6th. Nine research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, IonQ presently has an average rating of "Moderate Buy" and an average price target of $69.92.

Insider Transactions at IonQ

In related news, Director Kathryn K. Chou sold 2,757 shares of the business's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $55.02, for a total value of $151,690.14. Following the completion of the sale, the director directly owned 62,608 shares in the company, valued at approximately $3,444,692.16. The trade was a 4.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gabrielle B. Toledano sold 2,757 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $55.01, for a total value of $151,662.57. Following the sale, the director directly owned 11,154 shares of the company's stock, valued at $613,581.54. The trade was a 19.82% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 9,329 shares of company stock worth $513,216. 0.55% of the stock is owned by corporate insiders.

IonQ Price Performance

Shares of NYSE IONQ opened at $44.95 on Friday. The company has a market capitalization of $17.13 billion, a P/E ratio of -9.65 and a beta of 3.28. IonQ, Inc. has a one year low of $25.89 and a one year high of $84.64. The business's 50-day moving average price is $44.36 and its two-hundred day moving average price is $43.17.

IonQ (NYSE:IONQ - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.56) by $0.23. The firm had revenue of $80.05 million during the quarter, compared to analysts' expectations of $66.47 million. IonQ had a negative net margin of 553.27% and a negative return on equity of 22.29%. The company's revenue was up 286.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.70) earnings per share. On average, equities analysts anticipate that IonQ, Inc. will post -2.86 EPS for the current year.

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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