Free Trial

WIM INVESTMENT MANAGEMENT Ltd Invests $3.94 Million in IonQ, Inc. $IONQ

IonQ logo with Computer and Technology background
Image from MarketBeat Media, LLC.

Key Points

  • WIM INVESTMENT MANAGEMENT Ltd opened a new position in IonQ during the fourth quarter, buying 87,700 shares valued at about $3.94 million. The stake represents 1.0% of the fund’s portfolio and is its 15th-largest holding.
  • IonQ reported mixed quarterly results, posting a loss of $0.34 per share versus estimates for a $0.26 loss, but revenue of $64.67 million beat expectations. Revenue surged 754.7% year over year, underscoring rapid growth despite continued losses.
  • Institutional interest remains solid, with hedge funds and other institutions adjusting positions and 41.42% of the stock now owned by institutional investors. Analysts still see upside overall, with a consensus Moderate Buy rating and a $68.63 average price target, even as some recent ratings turned more cautious.
  • Five stocks to consider instead of IonQ.

WIM INVESTMENT MANAGEMENT Ltd acquired a new position in IonQ, Inc. (NYSE:IONQ - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 87,700 shares of the company's stock, valued at approximately $3,935,000. IonQ comprises 1.0% of WIM INVESTMENT MANAGEMENT Ltd's portfolio, making the stock its 15th biggest position.

A number of other hedge funds have also recently made changes to their positions in the business. Western Wealth Management LLC lifted its holdings in shares of IonQ by 8.2% in the 4th quarter. Western Wealth Management LLC now owns 25,719 shares of the company's stock worth $1,154,000 after acquiring an additional 1,957 shares during the last quarter. Moneco Advisors LLC lifted its holdings in shares of IonQ by 21.6% in the 4th quarter. Moneco Advisors LLC now owns 10,106 shares of the company's stock worth $453,000 after acquiring an additional 1,798 shares during the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of IonQ by 8.0% in the 4th quarter. HighPoint Advisor Group LLC now owns 10,080 shares of the company's stock worth $452,000 after acquiring an additional 749 shares during the last quarter. Strategic Planning Group LLC lifted its holdings in shares of IonQ by 17.7% in the 4th quarter. Strategic Planning Group LLC now owns 119,291 shares of the company's stock worth $5,353,000 after acquiring an additional 17,922 shares during the last quarter. Finally, Fortem Financial Group LLC bought a new stake in shares of IonQ in the 4th quarter worth approximately $203,000. 41.42% of the stock is currently owned by institutional investors.

IonQ Stock Down 1.2%

Shares of NYSE IONQ opened at $55.18 on Thursday. IonQ, Inc. has a 52 week low of $25.89 and a 52 week high of $84.64. The firm's fifty day moving average is $37.75 and its 200 day moving average is $43.45. The company has a market cap of $20.23 billion, a price-to-earnings ratio of -197.07 and a beta of 3.05.

IonQ (NYSE:IONQ - Get Free Report) last issued its 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 firm had revenue of $64.67 million during the quarter, compared to analysts' expectations of $49.75 million. IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The firm's quarterly revenue was up 754.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.14) earnings per share. Equities research analysts anticipate that IonQ, Inc. will post -1.95 earnings per share for the current year.

Trending Headlines about IonQ

Here are the key news stories impacting IonQ this week:

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Benchmark lowered their price objective on shares of IonQ from $75.00 to $65.00 and set a "buy" rating for the company in a report on Thursday, February 26th. Wedbush reaffirmed an "outperform" rating and issued a $60.00 target price on shares of IonQ in a research note on Monday, May 4th. Wall Street Zen downgraded shares of IonQ from a "sell" rating to a "strong sell" rating in a research note on Monday. Jefferies Financial Group set a $85.00 target price on shares of IonQ in a research note on Thursday, May 7th. Finally, Weiss Ratings raised shares of IonQ from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Monday. Ten research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.63.

Get Our Latest Stock Analysis on IONQ

Insider Buying and Selling at IonQ

In other IonQ news, 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 transaction of $93,352.00. Following the transaction, the insider directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William J. Teuber, Jr. acquired 3,000 shares of IonQ stock in a transaction on Friday, February 27th. The shares were bought at an average cost of $38.38 per share, for a total transaction of $115,140.00. Following the completion of the transaction, the director owned 9,413 shares in the company, valued at approximately $361,270.94. This trade represents a 46.78% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have sold 12,354 shares of company stock valued at $504,428. 5.20% of the stock is currently owned by company insiders.

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. 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.

Read More

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).

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.

Should You Invest $1,000 in IonQ Right Now?

Before you consider IonQ, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and IonQ wasn't on the list.

While IonQ currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

5G Stocks: The Path Forward is Profitable Cover

Click the link to see MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Related Videos

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines