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Resona Asset Management Co. Ltd. Purchases Shares of 87,015 IonQ, Inc. $IONQ

IonQ logo with Computer and Technology background
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Key Points

  • Resona Asset Management opened a new position in IonQ during the fourth quarter, buying 87,015 shares valued at about $3.9 million.
  • IonQ has been lifted by broader quantum-computing optimism after the Trump administration said it plans to invest more than $2 billion in the sector and take stakes in several firms, fueling speculation IonQ could benefit.
  • The stock is also drawing attention from both analysts and insiders: IonQ reported strong revenue growth in its latest quarter but missed EPS estimates, while analysts still rate it a Moderate Buy on average despite recent insider selling.
  • MarketBeat previews the top five stocks to own by June 1st.

Resona Asset Management Co. Ltd. purchased 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 SEC. The firm purchased 87,015 shares of the company's stock, valued at approximately $3,909,000.

Other institutional investors have also added to or reduced their stakes in the company. Ameriflex Group Inc. grew its holdings in 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 buying an additional 340 shares in the last quarter. UMB Bank n.a. purchased a new position in IonQ during the 3rd quarter valued at approximately $31,000. Beaird Harris Wealth Management LLC grew its holdings in 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 buying an additional 270 shares in the last quarter. Kelleher Financial Advisors purchased a new position in IonQ during the 3rd quarter valued at approximately $36,000. Finally, Fortitude Family Office LLC grew its holdings in 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 buying an additional 608 shares in the last quarter. Hedge funds and other institutional investors own 41.42% of the company's stock.

Key Headlines Impacting IonQ

Here are the key news stories impacting IonQ this week:

Insider Activity at IonQ

In related news, insider Robert T. Cardillo sold 5,165 shares of the business's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $39.44, for a total transaction of $203,707.60. Following the completion of the transaction, the insider owned 112,291 shares in the company, valued at $4,428,757.04. The trade was a 4.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John W. Raymond sold 2,800 shares of the business's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $33.34, for a total value of $93,352.00. Following the transaction, the insider owned 83,963 shares of the company's stock, valued at approximately $2,799,326.42. The trade was a 3.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 12,354 shares of company stock worth $504,428 in the last quarter. 5.20% of the stock is owned by company insiders.

IonQ Trading Up 7.9%

Shares of NYSE:IONQ opened at $63.54 on Friday. The company has a market capitalization of $23.72 billion, a price-to-earnings ratio of -226.93 and a beta of 3.05. IonQ, Inc. has a 12 month low of $25.89 and a 12 month high of $84.64. The firm's 50-day moving average is $40.37 and its 200 day moving average is $43.28.

IonQ (NYSE:IONQ - Get Free Report) last issued 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). IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The firm had revenue of $64.67 million for the quarter, compared to the consensus estimate of $49.75 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. The business's revenue for the quarter was up 754.7% on a year-over-year basis. As a group, equities analysts forecast that IonQ, Inc. will post -2.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on IONQ shares. Northland Securities started coverage on IonQ in a report on Monday, April 20th. They set an "outperform" rating and a $55.00 price target for the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of IonQ in a report on Monday, February 9th. Wedbush reiterated an "outperform" rating and issued a $60.00 target price on shares of IonQ in a report on Monday, May 4th. JPMorgan Chase & Co. lifted their target price on IonQ from $42.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Finally, Needham & Company LLC dropped their target price on IonQ from $80.00 to $65.00 and set a "buy" rating for the company in a report on Thursday, February 26th. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, IonQ presently has an average rating of "Moderate Buy" and an average target price of $68.63.

Check Out Our Latest Stock Analysis on IonQ

IonQ 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. 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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Institutional Ownership by Quarter for IonQ (NYSE:IONQ)

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.

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