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Nuveen LLC Makes New Investment in IonQ, Inc. $IONQ

IonQ logo with Computer and Technology background

Key Points

  • Nuveen LLC acquired 552,453 shares of IonQ, Inc., worth approximately $12.19 million, increasing its stake to about 0.25% of the company.
  • IonQ's recent earnings report showed a revenue increase of 81.6% year-over-year, although it reported an EPS of -$0.70, missing analysts' expectations by -$0.57.
  • Several analysts have initiated coverage on IonQ, with ratings ranging from "outperform" to "buy," and a consensus target price set at $45.00.
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Nuveen LLC acquired a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 552,453 shares of the company's stock, valued at approximately $12,193,000. Nuveen LLC owned about 0.25% of IonQ at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Mariner LLC raised its holdings in IonQ by 0.6% in the 4th quarter. Mariner LLC now owns 54,479 shares of the company's stock valued at $2,276,000 after acquiring an additional 350 shares during the last quarter. Future Financial Wealth Managment LLC raised its holdings in IonQ by 50.0% in the 1st quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company's stock valued at $33,000 after acquiring an additional 500 shares during the last quarter. Miracle Mile Advisors LLC raised its holdings in IonQ by 2.5% in the 1st quarter. Miracle Mile Advisors LLC now owns 20,500 shares of the company's stock valued at $452,000 after acquiring an additional 500 shares during the last quarter. Measured Risk Portfolios Inc. acquired a new stake in IonQ in the 4th quarter valued at about $27,000. Finally, Signaturefd LLC raised its holdings in IonQ by 20.7% in the 1st quarter. Signaturefd LLC now owns 4,048 shares of the company's stock valued at $89,000 after acquiring an additional 694 shares during the last quarter. Institutional investors and hedge funds own 41.42% of the company's stock.

Insider Activity at IonQ

In related news, CFO Thomas G. Kramer sold 17,776 shares of IonQ stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $41.28, for a total value of $733,793.28. Following the completion of the sale, the chief financial officer owned 537,880 shares in the company, valued at approximately $22,203,686.40. This trade represents a 3.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathryn K. Chou sold 6,789 shares of IonQ stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $43.14, for a total transaction of $292,877.46. Following the completion of the sale, the director owned 60,839 shares of the company's stock, valued at $2,624,594.46. This trade represents a 10.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,209,626 shares of company stock worth $361,253,723 over the last quarter. Company insiders own 5.20% of the company's stock.

IonQ Trading Up 7.1%

IonQ stock traded up $2.6210 during trading on Friday, hitting $39.7910. The company had a trading volume of 15,113,758 shares, compared to its average volume of 18,952,476. IonQ, Inc. has a 1-year low of $6.54 and a 1-year high of $54.74. The company's 50 day simple moving average is $41.61 and its 200-day simple moving average is $34.28. The stock has a market cap of $11.81 billion, a price-to-earnings ratio of -19.80 and a beta of 2.54.

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

Analyst Ratings Changes

IONQ has been the subject of a number of recent analyst reports. Benchmark raised their price target on shares of IonQ from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Oppenheimer initiated coverage on shares of IonQ in a report on Wednesday, July 30th. They set an "outperform" rating for the company. Morgan Stanley raised their price target on shares of IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Cantor Fitzgerald initiated coverage on shares of IonQ in a report on Wednesday, July 2nd. They set an "overweight" rating and a $45.00 price target for the company. Finally, Sanford C. Bernstein initiated coverage on shares of IonQ in a report on Wednesday, July 30th. They set a "market perform" rating for the company. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $45.00.

Read Our Latest Stock Report on IonQ

IonQ Company 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.

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Institutional Ownership by Quarter for IonQ (NYSE:IONQ)

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