Raiffeisen Bank International AG Purchases Shares of 200,000 IonQ, Inc. $IONQ

Key Points

• Raiffeisen Bank International purchased 200,000 IonQ shares worth approximately $10.8 million, while institutional investors collectively own 41.42% of the company.
• IonQ reported stronger-than-expected quarterly results, with revenue of $80.05 million—up 286.7% year over year—and an adjusted loss of $0.33 per share versus the expected $0.56 loss.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $69.92, although insiders have sold shares and the stock remains well below its 52-week high.

Raiffeisen Bank International AG acquired a new position in IonQ, Inc. (NYSE:IONQ - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 200,000 shares of the company's stock, valued at approximately $10,776,000. Raiffeisen Bank International AG owned about 0.05% of IonQ as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of IonQ during the second quarter valued at approximately $1,112,945,000. State Street Corp raised its position in IonQ by 42.3% in the 4th quarter. State Street Corp now owns 8,962,789 shares of the company's stock valued at $402,160,000 after buying an additional 2,663,230 shares during the last quarter. Geode Capital Management LLC lifted its stake in IonQ by 21.9% during the 4th quarter. Geode Capital Management LLC now owns 8,074,301 shares of the company's stock valued at $361,624,000 after acquiring an additional 1,452,463 shares in the last quarter. Bank of America Corp DE bought a new position in IonQ during the 2nd quarter valued at $344,757,000. Finally, Norges Bank purchased a new position in IonQ during the 4th quarter worth $199,753,000. 41.42% of the stock is owned by hedge funds and other institutional investors.

IonQ Price Performance

Shares of NYSE:IONQ opened at $39.12 on Friday. IonQ, Inc. has a 1 year low of $25.89 and a 1 year high of $84.64. The company has a market capitalization of $14.90 billion, a PE ratio of -8.39 and a beta of 3.30. The business has a fifty day moving average price of $41.44 and a two-hundred day moving average price of $43.56.

IonQ (NYSE:IONQ - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($0.33) EPS for the quarter, topping 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 return on equity of 22.29% and a negative net margin of 553.27%.The business's revenue for the quarter was up 286.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.70) EPS. Sell-side analysts anticipate that IonQ, Inc. will post -2.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Gabrielle B. Toledano sold 2,757 shares of the firm's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $55.01, for a total transaction of $151,662.57. Following the completion of the sale, the director owned 11,154 shares in the company, valued at $613,581.54. This trade represents a 19.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John W. Raymond sold 3,815 shares of the firm's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $55.01, for a total transaction of $209,863.15. Following the sale, the insider owned 80,148 shares of the company's stock, valued at approximately $4,408,941.48. The trade was a 4.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 9,329 shares of company stock valued at $513,216. Company insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on IONQ. Rosenblatt Securities reiterated a "buy" rating and issued a $100.00 target price on shares of IonQ in a research note on Thursday, August 6th. Wall Street Zen lowered shares of IonQ from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Wedbush initiated coverage on shares of IonQ in a report on Monday, August 3rd. They set an "outperform" rating and a $75.00 price target on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $70.00 price objective on shares of IonQ in a research report on Thursday, August 6th. Finally, Jefferies Financial Group set a $75.00 price objective on shares of IonQ in a research note on Thursday, August 6th. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $69.92.

IonQ 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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source