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Leonteq Securities AG Makes New $1.93 Million Investment in IonQ, Inc. $IONQ

IonQ logo with Computer and Technology background
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Key Points

  • Leonteq Securities AG opened a new position in IonQ during the fourth quarter, buying 43,013 shares worth about $1.93 million.
  • IonQ continues to draw interest from institutional investors, with several hedge funds and wealth managers also boosting or initiating stakes in the quantum computing company.
  • The stock has been volatile but has strong analyst attention: IonQ recently beat revenue expectations in its latest quarter, while analysts maintain a Moderate Buy consensus with an average target price of $68.63.
  • Five stocks we like better than IonQ.

Leonteq Securities AG acquired a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 43,013 shares of the company's stock, valued at approximately $1,930,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameriflex Group Inc. lifted its stake in shares of IonQ by 485.7% during the third quarter. Ameriflex Group Inc. now owns 410 shares of the company's stock worth $25,000 after purchasing an additional 340 shares in the last quarter. Fortitude Family Office LLC lifted its stake in shares of IonQ by 3,800.0% during the fourth quarter. Fortitude Family Office LLC now owns 624 shares of the company's stock worth $28,000 after purchasing an additional 608 shares in the last quarter. UMB Bank n.a. acquired a new position in shares of IonQ during the third quarter worth about $31,000. Beaird Harris Wealth Management LLC lifted 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 purchasing an additional 270 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted 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 purchasing an additional 279 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.

IonQ Stock Performance

Shares of NYSE IONQ opened at $58.99 on Friday. IonQ, Inc. has a 1 year low of $25.89 and a 1 year high of $84.64. The firm has a market cap of $22.02 billion, a price-to-earnings ratio of -210.66 and a beta of 3.05. The stock's 50-day simple moving average is $39.79 and its 200-day simple moving average is $43.13.

IonQ (NYSE:IONQ - Get Free Report) last announced its 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 business had revenue of $64.67 million for the quarter, compared to analysts' expectations of $49.75 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. The firm's revenue was up 754.7% compared to the same quarter last year. As a group, research analysts predict that IonQ, Inc. will post -2.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on IONQ shares. Benchmark reduced their price objective on IonQ from $75.00 to $65.00 and set a "buy" rating on the stock in a research note on Thursday, February 26th. Wall Street Zen cut IonQ from a "sell" rating to a "strong sell" rating in a research note on Monday, May 11th. Jefferies Financial Group set a $85.00 target price on IonQ in a research report on Thursday, May 7th. DA Davidson dropped their target price on IonQ from $55.00 to $35.00 and set a "neutral" rating on the stock in a research report on Thursday, February 26th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 target price on shares of IonQ in a research report on Thursday, February 26th. Ten research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, IonQ has an average rating of "Moderate Buy" and a consensus target price of $68.63.

Read Our Latest Research Report on IONQ

Insider Transactions at IonQ

In related news, insider Robert T. Cardillo sold 3,773 shares of the business's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total value of $188,272.70. Following the completion of the sale, the insider directly owned 139,967 shares of the company's stock, valued at $6,984,353.30. The trade was a 2.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John W. Raymond sold 2,800 shares of the business's stock in a transaction dated 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. This represents a 3.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 12,354 shares of company stock valued at $504,428. 5.20% of the stock is currently owned by insiders.

IonQ News Summary

Here are the key news stories impacting IonQ this week:

IonQ Profile

(Free Report)

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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Institutional Ownership by Quarter for IonQ (NYSE:IONQ)

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.

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