Hsbc Holdings PLC Grows Stake in IonQ, Inc. $IONQ

Key Points

• HSBC Holdings PLC increased its stake in IonQ by 1,209.5% in the fourth quarter, ending with 165,524 shares valued at about $7.49 million.
• Other institutional investors also added to IonQ, and the company now has 41.42% of its stock owned by institutions, signaling continued professional investor interest.
• IonQ remains a highly watched quantum-computing stock: analysts currently have a Moderate Buy consensus with an average target price of $69.88, while the company recently reported strong revenue growth despite an earnings miss.

Hsbc Holdings PLC increased its holdings in IonQ, Inc. (NYSE:IONQ - Free Report) by 1,209.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 165,524 shares of the company's stock after buying an additional 152,884 shares during the period. Hsbc Holdings PLC's holdings in IonQ were worth $7,488,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in IONQ. Clear Street Group Inc. bought a new position in shares of IonQ in the third quarter worth approximately $61,488,000. Swedbank AB purchased a new stake in IonQ in the fourth quarter valued at approximately $2,708,000. Jefferies Financial Group Inc. bought a new stake in IonQ during the fourth quarter valued at approximately $3,271,000. ProShare Advisors LLC grew its stake in IonQ by 30.3% in the 4th quarter. ProShare Advisors LLC now owns 62,184 shares of the company's stock worth $2,790,000 after buying an additional 14,465 shares in the last quarter. Finally, Forsta AP Fonden purchased a new position in IonQ in the 4th quarter worth approximately $5,488,000. Institutional investors own 41.42% of the company's stock.

Trending Headlines about IonQ

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: Recent articles highlight IonQ as a key beneficiary of Washington’s growing quantum-computing push, with federal support and strategic interest potentially boosting demand for the company’s technology. Washington’s Quantum Push Puts IBM and IonQ on the Throne (IONQ)
• Positive Sentiment: IonQ also drew attention for a new quantum security product, Clavis XG Multiplex, which could expand its addressable market in cybersecurity and metro fiber-network applications. IonQ Unveils New Quantum Security Solution as Cybersecurity Risks Grow
• Neutral Sentiment: IonQ is also seeing elevated investor and media attention, which can keep trading volume high and the stock volatile, even without a specific new catalyst. Investors Heavily Search IonQ, Inc. (IONQ): Here is What You Need to Know
• Neutral Sentiment: Multiple roundup and comparison pieces on quantum-computing stocks, including IonQ versus rivals, suggest investors remain focused on the sector’s long-term potential rather than any single near-term fundamental change. IonQ vs. Quantinuum: Which Quantum Computing Accuracy-Leading Stock Looks Like the Better Buy?
• Negative Sentiment: The stock recently suffered a sharper drop than the broader market, reinforcing concerns about valuation and ongoing volatility after a sizable one-day decline. IonQ, Inc. (IONQ) Suffers a Larger Drop Than the General Market: Key Insights

Insider Buying and Selling

In other news, insider Robert T. Cardillo sold 3,773 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total transaction of $188,272.70. Following the completion of the sale, the insider owned 139,967 shares of the company's stock, valued at approximately $6,984,353.30. This represents a 2.62% decrease 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, Director Gabrielle B. Toledano sold 2,757 shares of the firm'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 transaction of $151,662.57. Following the completion of the transaction, the director owned 11,154 shares in the company, valued at $613,581.54. This represents a 19.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,102 shares of company stock valued at $701,489 in the last 90 days. 0.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Rosenblatt Securities restated a "buy" rating and set a $100.00 price objective on shares of IonQ in a research report on Thursday, June 11th. Jefferies Financial Group set a $85.00 target price on shares of IonQ in a research report on Thursday, May 7th. Wall Street Zen raised IonQ from a "strong sell" rating to a "sell" rating in a research note on Saturday, June 13th. Wedbush restated an "outperform" rating and set a $60.00 price target on shares of IonQ in a research report on Monday, May 4th. Finally, Weiss Ratings upgraded IonQ from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Monday, May 11th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $69.88.

IonQ Stock Performance

Shares of IONQ opened at $49.43 on Friday. IonQ, Inc. has a fifty-two week low of $25.89 and a fifty-two week high of $84.64. The firm has a market cap of $18.45 billion, a price-to-earnings ratio of -176.55 and a beta of 3.18. The firm has a 50 day moving average price of $55.08 and a 200-day moving average price of $45.11.

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

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.