IonQ, Inc. $IONQ Stock Holdings Lifted by Union Bancaire Privee UBP SA

Key Points

• Union Bancaire Privee UBP SA significantly increased its holdings in IonQ, Inc. by 8,150.0% during the 2nd quarter, bringing their total shares to 82,500 valued at approximately $3,545,000.
• IonQ's recent earnings report showed a loss of $0.70 per share, missing analysts' estimates, despite reporting a revenue increase of 81.6% year-over-year.
• Analysts have mixed ratings on IonQ, with a current consensus rating of "Moderate Buy" and a average target price of $58.33.

Union Bancaire Privee UBP SA lifted its position in IonQ, Inc. (NYSE:IONQ - Free Report) by 8,150.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,500 shares of the company's stock after acquiring an additional 81,500 shares during the period. Union Bancaire Privee UBP SA's holdings in IonQ were worth $3,545,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in IONQ. ORG Partners LLC grew its position in IonQ by 348.0% during the first quarter. ORG Partners LLC now owns 1,120 shares of the company's stock valued at $26,000 after purchasing an additional 870 shares in the last quarter. Future Financial Wealth Managment LLC boosted its stake in shares of IonQ by 50.0% during the 1st quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company's stock valued at $33,000 after buying an additional 500 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of IonQ by 780.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,461 shares of the company's stock valued at $34,000 after acquiring an additional 1,295 shares in the last quarter. Close Asset Management Ltd acquired a new position in shares of IonQ in the first quarter worth $35,000. Finally, SVB Wealth LLC acquired a new position in shares of IonQ in the first quarter worth $35,000. 41.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on IONQ shares. Wolfe Research began coverage on IonQ in a research report on Wednesday, July 30th. They set a "peer perform" rating for the company. DA Davidson downgraded IonQ from a "buy" rating to a "neutral" rating and set a $35.00 price target for the company. in a research note on Thursday, August 7th. B. Riley boosted their price target on IonQ from $75.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Sanford C. Bernstein started coverage on IonQ in a report on Wednesday, July 30th. They issued a "market perform" rating on the stock. Finally, Benchmark lifted their target price on shares of IonQ from $55.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, September 16th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.33.

IonQ Trading Down 4.6%

Shares of NYSE:IONQ opened at $64.21 on Tuesday. The stock has a market capitalization of $19.06 billion, a PE ratio of -31.94 and a beta of 2.54. IonQ, Inc. has a 1 year low of $7.99 and a 1 year high of $76.13. The firm has a fifty day moving average price of $47.49 and a 200 day moving average price of $38.67.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.57). The business had revenue of $20.69 million during the quarter, compared to the consensus estimate of $17.23 million. IonQ had a negative return on equity of 67.11% and a negative net margin of 885.21%.The company's revenue for the quarter was up 81.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.18) earnings per share. On average, sell-side analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Insider Activity

In other IonQ news, CRO Rima Alameddine sold 45,000 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $46.18, for a total transaction of $2,078,100.00. Following the completion of the transaction, the executive owned 552,592 shares of the company's stock, valued at $25,518,698.56. The trade was a 7.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn K. Chou sold 6,789 shares of the business's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $43.14, for a total transaction of $292,877.46. Following the transaction, the director directly owned 60,839 shares of the company's stock, valued at approximately $2,624,594.46. This represents a 10.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 351,047 shares of company stock worth $15,645,611. Insiders own 5.20% of the company's stock.

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.

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