Norges Bank Takes $199.75 Million Position in IonQ, Inc. $IONQ

Key Points

• Norges Bank disclosed a new stake in IonQ, buying 4.45 million shares valued at about $199.8 million and ending the quarter with roughly 1.28% ownership.
• IonQ’s latest quarter showed strong revenue growth of $64.67 million, up 754.7% year over year, but the company still posted a loss of $0.34 per share, wider than Wall Street expected.
• Analysts remain broadly constructive despite the volatility: IonQ has a “Moderate Buy” consensus rating and a target price of $68.63, while recent coverage highlights new R&D expansion and growing interest in quantum computing.

Norges Bank acquired a new stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,451,819 shares of the company's stock, valued at approximately $199,753,000. Norges Bank owned approximately 1.28% of IonQ at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Ameriflex Group Inc. boosted its position in shares of IonQ by 485.7% during the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company's stock valued at $25,000 after purchasing an additional 340 shares in the last quarter. Accent Capital Management LLC boosted its position in shares of IonQ by 171.8% during the 4th quarter. Accent Capital Management LLC now owns 587 shares of the company's stock valued at $26,000 after purchasing an additional 371 shares in the last quarter. Fortitude Family Office LLC boosted its position in shares of IonQ by 3,800.0% during the 4th quarter. Fortitude Family Office LLC now owns 624 shares of the company's stock valued at $28,000 after purchasing an additional 608 shares in the last quarter. UMB Bank n.a. bought a new position in shares of IonQ during the 3rd quarter valued at about $31,000. Finally, Beaird Harris Wealth Management LLC boosted its position in shares of IonQ by 117.4% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company's stock valued at $31,000 after purchasing an additional 270 shares in the last quarter. Institutional investors own 41.42% of the company's stock.

IonQ Price Performance

Shares of IONQ opened at $71.49 on Wednesday. The stock has a market cap of $26.69 billion, a price-to-earnings ratio of -255.34 and a beta of 3.18. The company has a 50-day moving average of $44.51 and a two-hundred day moving average of $43.66. IonQ, Inc. has a one year low of $25.89 and a one year high of $84.64.

IonQ (NYSE:IONQ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.08). The company had revenue of $64.67 million for the quarter, compared to analyst estimates of $49.75 million. IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The business's revenue for the quarter was up 754.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.14) earnings per share. Analysts anticipate that IonQ, Inc. will post -2.26 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on IONQ shares. Needham & Company LLC decreased their target price on shares of IonQ from $80.00 to $65.00 and set a "buy" rating for the company in a report on Thursday, February 26th. Wall Street Zen upgraded shares of IonQ from a "strong sell" rating to a "sell" rating in a report on Saturday, May 23rd. Weiss Ratings upgraded shares of IonQ from a "sell (d-)" rating to a "sell (d+)" rating in a report on Monday, May 11th. Rosenblatt Securities reiterated a "buy" rating and issued a $100.00 target price on shares of IonQ in a report on Thursday, February 26th. Finally, Northland Securities started coverage on shares of IonQ in a report on Monday, April 20th. They issued an "outperform" rating and a $55.00 target price for the company. Ten research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.63.

Key Stories Impacting IonQ

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: IonQ opened a 22,000-square-foot quantum R&D lab in Boulder, Colorado, which should support product development and help accelerate the rollout of its first commercial machine by year-end. Article: IonQ just opened a 22,000-square-foot quantum R&D lab in Boulder, Colorado — semiconductor ion trap chips set to power the company’s first commercial machine by year-end
• Positive Sentiment: Several recent articles highlighted IonQ’s rapid revenue growth, strong government and education demand, and its expanding role in sovereign quantum infrastructure and national-security projects, all of which reinforce the bullish long-term investment case. Article: IonQ: Unique Trapped Ion Technology To Sustain Rapid Growth
• Neutral Sentiment: Zacks noted that IonQ has been attracting investor attention, which signals elevated interest in the stock but does not itself change the company’s fundamentals. Article: IonQ, Inc. (IONQ) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Coverage questioning whether IonQ could reach $100 reflects strong momentum and optimism, but it is mostly sentiment-driven rather than a new business development. Article: Is IonQ Stock Going to $100?
• Negative Sentiment: Some commentary noted that IonQ’s valuation has become harder to justify after the recent rally, especially as the company is still posting large losses despite fast revenue growth. Article: IonQ’s Sovereign Quantum Role Fuels Rerating And Valuation Questions

Insider Activity at IonQ

In related news, 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 directly owned 83,963 shares in the company, valued at approximately $2,799,326.42. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert T. Cardillo sold 3,773 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total transaction of $188,272.70. Following the sale, the insider owned 139,967 shares of the company's stock, valued at approximately $6,984,353.30. This represents a 2.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company 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. 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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