Mirabaud & Cie SA Makes New Investment in IonQ, Inc. $IONQ

Key Points

• Mirabaud & Cie SA recently acquired 5,350 shares of IonQ, valued at approximately $230,000, indicating growing interest from institutional investors.
• IonQ's stock price surged by 18.4%, with shares opening at $55.72 and a market capitalization of $16.54 billion.
• Despite reporting a loss of $0.70 EPS for the last quarter, IonQ's revenue increased by 81.6% compared to the previous year, reaching $20.69 million.

Mirabaud & Cie SA acquired a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,350 shares of the company's stock, valued at approximately $230,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its stake in IonQ by 120.0% during the 4th quarter. Cetera Investment Advisers now owns 34,033 shares of the company's stock worth $1,422,000 after acquiring an additional 18,566 shares during the period. Modus Advisors LLC bought a new position in shares of IonQ in the 2nd quarter valued at $219,000. GAMMA Investing LLC increased its stake in shares of IonQ by 4,683.1% in the 1st quarter. GAMMA Investing LLC now owns 54,336 shares of the company's stock valued at $1,199,000 after purchasing an additional 53,200 shares during the last quarter. Rhumbline Advisers increased its stake in shares of IonQ by 6.6% in the 1st quarter. Rhumbline Advisers now owns 323,930 shares of the company's stock valued at $7,149,000 after purchasing an additional 20,127 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of IonQ by 54.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,735 shares of the company's stock valued at $203,000 after purchasing an additional 3,068 shares during the last quarter. Institutional investors own 41.42% of the company's stock.

Insider Buying and Selling

In other IonQ news, insider Peter Hume Chapman sold 1,497,311 shares of IonQ stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $39.93, for a total transaction of $59,787,628.23. Following the transaction, the insider directly owned 390,329 shares of the company's stock, valued at approximately $15,585,836.97. The trade was a 79.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Rima Alameddine sold 45,000 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $46.18, for a total value of $2,078,100.00. Following the completion of the transaction, the executive directly owned 552,592 shares in the company, valued at $25,518,698.56. This represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,750,325 shares of company stock valued at $109,397,784 over the last 90 days. 5.20% of the stock is owned by corporate insiders.

IonQ Trading Up 18.4%

Shares of IONQ opened at $55.72 on Monday. The company has a market capitalization of $16.54 billion, a PE ratio of -27.72 and a beta of 2.54. IonQ, Inc. has a 12 month low of $7.40 and a 12 month high of $56.07. The stock's 50-day moving average price is $42.33 and its two-hundred day moving average price is $35.13.

IonQ (NYSE:IONQ - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.57). The company had revenue of $20.69 million for the quarter, compared to analyst estimates of $17.23 million. IonQ had a negative return on equity of 67.11% and a negative net margin of 885.21%.The firm's quarterly revenue was up 81.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.18) earnings per share. Equities research analysts predict that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wolfe Research assumed coverage on IonQ in a research note on Wednesday, July 30th. They issued a "peer perform" rating on the stock. Oppenheimer assumed coverage on IonQ in a research note on Wednesday, July 30th. They issued an "outperform" rating on the stock. DA Davidson lowered IonQ from a "buy" rating to a "neutral" rating and set a $35.00 price target on the stock. in a research note on Thursday, August 7th. B. Riley initiated coverage on IonQ in a research report on Wednesday, August 27th. They set a "buy" rating and a $61.00 price objective on the stock. Finally, Benchmark boosted their price objective on IonQ from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $46.78.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.