NewEdge Advisors LLC Increases Stock Holdings in IonQ, Inc. $IONQ

Key Points

• NewEdge Advisors increased its IonQ holdings by 91.9% in the second quarter, purchasing 22,753 additional shares to reach 47,500 shares valued at approximately $2.53 million. Institutional investors collectively own 41.42% of IonQ.
• IonQ reported quarterly revenue of $80.05 million, up 286.7% year over year, and posted a loss of $0.33 per share, beating analysts’ expectations. However, the company remains unprofitable, with a negative net margin of 553.27%.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $67.17 versus a recent share price of $40.45. IonQ faces ongoing commercialization and valuation risks, while an insider recently sold 2,407 shares.

NewEdge Advisors LLC raised its position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 91.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,500 shares of the company's stock after purchasing an additional 22,753 shares during the quarter. NewEdge Advisors LLC's holdings in IonQ were worth $2,530,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IONQ. Archer Investment Corp bought a new position in shares of IonQ in the 2nd quarter worth approximately $25,000. Accent Capital Management LLC boosted its holdings in shares of IonQ by 171.8% in the fourth quarter. Accent Capital Management LLC now owns 587 shares of the company's stock worth $26,000 after buying an additional 371 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in IonQ by 216.5% during the first quarter. EverSource Wealth Advisors LLC now owns 959 shares of the company's stock valued at $28,000 after buying an additional 656 shares during the period. PeakShares LLC bought a new stake in IonQ during the first quarter valued at approximately $29,000. Finally, EFG International AG purchased a new stake in IonQ during the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 41.42% of the company's stock.

IonQ Price Performance

Shares of NYSE IONQ opened at $40.45 on Friday. The stock has a market cap of $15.41 billion, a PE ratio of -8.68 and a beta of 3.30. IonQ, Inc. has a 1 year low of $25.89 and a 1 year high of $84.64. The firm has a fifty day moving average price of $39.27 and a 200-day moving average price of $43.85.

IonQ (NYSE:IONQ - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.33) earnings per share for the quarter, beating analysts' consensus estimates of ($0.56) by $0.23. The company had revenue of $80.05 million for the quarter, compared to analysts' expectations of $66.47 million. IonQ had a negative net margin of 553.27% and a negative return on equity of 22.29%. IonQ's revenue for the quarter was up 286.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.70) EPS. On average, research analysts expect that IonQ, Inc. will post -2.11 EPS for the current year.

Insider Buying and Selling

In other IonQ news, insider John Raymond sold 2,407 shares of the firm's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $37.21, for a total transaction of $89,564.47. Following the sale, the insider directly owned 77,741 shares of the company's stock, valued at $2,892,742.61. This trade represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

IonQ News Roundup

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: IonQ and Synopsys reported that embedding an advanced quantum algorithm into Synopsys’ Ansys LS-DYNA simulation software accelerated complex automotive and jet-engine design simulations by as much as 14.6%. The potential to reduce processing times for enterprise engineering workloads strengthened the commercialization story. Why IonQ Stock Is Trading Up Today
• Positive Sentiment: A separate collaboration with Oak Ridge National Laboratory, NVIDIA and the University of Tennessee showed that generative AI could produce quantum optimization circuits directly. The approach reduced compilation time for a benchmark from more than 11 minutes to roughly 28 seconds, potentially lowering the cost and complexity of quantum computing services. IonQ and NVIDIA Just Cracked a Major Quantum Computing Bottleneck
• Neutral Sentiment: IonQ also received recognition through four QCE26 Best Paper Awards for research conducted with Quantum Basel, Synopsys, Oak Ridge and NVIDIA. The awards support the company’s technical credibility, although they do not immediately add revenue. IonQ Gains Recognition at QCE26
• Negative Sentiment: Investors remain concerned about IonQ’s heavy losses, commercialization risk and valuation. The company’s latest quarter showed strong revenue growth and a smaller-than-expected loss, but it remains unprofitable with a negative net margin. An insider sale of more than 16,000 shares also provided a cautionary signal, though it occurred after IonQ raised its full-year sales outlook. IonQ CEO Share Sale

Analysts Set New Price Targets

Several research analysts have weighed in on IONQ shares. Rosenblatt Securities reiterated a "buy" rating and issued a $100.00 price target on shares of IonQ in a research report on Wednesday, September 9th. B Riley reissued a "buy" rating on shares of IonQ in a research report on Wednesday, September 9th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $70.00 target price on shares of IonQ in a report on Wednesday, September 9th. Weiss Ratings downgraded IonQ from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Friday, August 21st. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $80.00 target price on shares of IonQ in a research report on Wednesday, September 9th. Ten analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $67.17.

About IonQ

IonQ, Inc is a quantum computing company that develops and commercializes quantum computers based on trapped-ion technology. Its systems are designed to perform specialized computations that may be difficult for classical computers, with potential applications in areas such as optimization, materials science, drug discovery, artificial intelligence and financial modeling.

The company provides access to its quantum processors through cloud platforms, including Amazon Web Services' Amazon Braket, Microsoft Azure Quantum and Google Cloud.

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