Jefferies Financial Group Inc. Purchases Shares of 72,900 IonQ, Inc. $IONQ

Key Points

• Jefferies Financial Group disclosed a new fourth-quarter stake in IonQ, buying 72,900 shares worth about $3.27 million.
• IonQ has continued to attract institutional interest, with several other investors also increasing or initiating positions; overall, 41.42% of the stock is institutionally owned.
• Despite the buying activity, insiders have been selling shares, while IonQ’s latest earnings showed better-than-expected revenue but a wider-than-expected loss per share and ongoing negative profitability.

Jefferies Financial Group Inc. purchased a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 72,900 shares of the company's stock, valued at approximately $3,271,000.

Other large investors have also recently bought and sold shares of the company. Clear Street Group Inc. acquired a new position in shares of IonQ during the 3rd quarter worth approximately $61,488,000. Western Wealth Management LLC grew its position in shares of IonQ by 222.8% during the 3rd quarter. Western Wealth Management LLC now owns 23,762 shares of the company's stock worth $1,461,000 after purchasing an additional 16,400 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of IonQ by 56.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 47,545 shares of the company's stock worth $2,924,000 after acquiring an additional 17,215 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of IonQ by 30.3% during the 4th quarter. ProShare Advisors LLC now owns 62,184 shares of the company's stock worth $2,790,000 after acquiring an additional 14,465 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of IonQ during the 4th quarter worth approximately $2,708,000. 41.42% of the stock is owned by institutional investors.

Insider Buying and Selling at IonQ

In other IonQ news, insider Robert T. Cardillo sold 3,773 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $49.90, for a total value of $188,272.70. Following the sale, the insider owned 139,967 shares in the company, valued at $6,984,353.30. This trade represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John W. Raymond sold 2,800 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $33.34, for a total transaction of $93,352.00. Following the completion of the sale, the insider owned 83,963 shares in the company, valued at $2,799,326.42. This represents a 3.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,738 shares of company stock worth $485,332 over the last quarter. Corporate insiders own 5.20% of the company's stock.

IonQ Trading Down 0.2%

NYSE IONQ opened at $63.52 on Wednesday. The firm has a market capitalization of $23.71 billion, a price-to-earnings ratio of -226.86 and a beta of 3.05. The firm's 50 day simple moving average is $41.59 and its 200 day simple moving average is $43.30. 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 earnings results on Wednesday, May 6th. The company reported ($0.34) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.08). IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The company had revenue of $64.67 million during the quarter, compared to analyst estimates of $49.75 million. During the same quarter in the prior year, the business earned ($0.14) EPS. The business's quarterly revenue was up 754.7% on a year-over-year basis. On average, equities research analysts forecast that IonQ, Inc. will post -2.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IONQ has been the topic of several analyst reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of IonQ in a research report on Monday, February 9th. Weiss Ratings upgraded shares of IonQ from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Monday, May 11th. Wedbush reiterated an "outperform" rating and set a $60.00 price target on shares of IonQ in a research report on Monday, May 4th. Needham & Company LLC reduced their price target on shares of IonQ from $80.00 to $65.00 and set a "buy" rating on the stock in a research report on Thursday, February 26th. Finally, Jefferies Financial Group set a $85.00 price target on shares of IonQ in a research report 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $68.63.

Trending Headlines about IonQ

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: Quantum computing stocks rallied after the U.S. Commerce Department announced $2.013 billion in CHIPS and Science Act grants to nine quantum companies, boosting sentiment across the group and strengthening the case for IonQ as a potential beneficiary. Article Title
• Positive Sentiment: Investor speculation is growing that IonQ could receive direct or indirect support from the government’s expanding quantum technology push, which has helped fuel buying interest in the stock. Article Title
• Positive Sentiment: Some market commentary says the recent rally in IONQ could still have more room to run if short sellers are forced to cover, adding a potential short-squeeze element to the move. Article Title
• Neutral Sentiment: Broader quantum-sector enthusiasm is also lifting related names and ETFs, but some of the gains are concentrated in the market’s interpretation of which companies will actually receive funding. Article Title
• Negative Sentiment: Some analysts and commentators are warning that the quantum story may be getting more competitive and harder to justify at current valuations, with newer entrants and other sector developments potentially diluting IonQ’s relative advantage. Article Title

IonQ 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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