DNB Asset Management AS Buys 50,624 Shares of IonQ, Inc. $IONQ

DNB Asset Management AS increased its stake in IonQ, Inc. (NYSE:IONQ) by 1,099.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,230 shares of the company’s stock after purchasing an additional 50,624 shares during the period. DNB Asset Management AS’s holdings in IonQ were worth $2,478,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC raised its position in IonQ by 4.3% in the 3rd quarter. International Assets Investment Management LLC now owns 5,679 shares of the company’s stock worth $349,000 after purchasing an additional 235 shares during the last quarter. Lauer Wealth LLC raised its position in shares of IonQ by 5.3% during the 4th quarter. Lauer Wealth LLC now owns 5,107 shares of the company’s stock valued at $229,000 after acquiring an additional 255 shares during the last quarter. Beaird Harris Wealth Management LLC raised 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 acquiring an additional 270 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of IonQ by 50.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock valued at $36,000 after acquiring an additional 279 shares during the last quarter. Finally, Letson Investment Management Inc. raised its position in shares of IonQ by 2.6% during the 4th quarter. Letson Investment Management Inc. now owns 12,619 shares of the company’s stock valued at $566,000 after acquiring an additional 319 shares during the last quarter. Institutional investors own 41.42% of the company’s stock.

Insider Buying and Selling at IonQ

In other IonQ news, insider Robert T. Cardillo sold 5,165 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $39.44, for a total value of $203,707.60. Following the completion of the transaction, the insider directly owned 112,291 shares of the company’s stock, valued at approximately $4,428,757.04. The trade was a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William J. Teuber, Jr. bought 3,000 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was acquired at an average cost of $38.38 per share, with a total value of $115,140.00. Following the completion of the purchase, the director owned 9,413 shares of the company’s stock, valued at approximately $361,270.94. This trade represents a 46.78% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 12,354 shares of company stock valued at $504,428. Company insiders own 5.20% of the company’s stock.

IonQ Stock Up 8.4%

IONQ opened at $52.53 on Thursday. IonQ, Inc. has a 12 month low of $25.89 and a 12 month high of $84.64. The company has a fifty day simple moving average of $39.31 and a 200 day simple moving average of $43.16. The stock has a market cap of $19.61 billion, a P/E ratio of -187.61 and a beta of 3.05.

IonQ (NYSE:IONQ) last posted its earnings results on Wednesday, May 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The business had revenue of $64.67 million during the quarter, compared to analyst estimates of $49.75 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. The firm’s revenue was up 754.7% on a year-over-year basis. On average, equities research analysts expect that IonQ, Inc. will post -1.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IONQ has been the subject of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of IonQ in a research report on Monday, February 9th. Rosenblatt Securities reiterated a “buy” rating and set a $100.00 target price on shares of IonQ in a research report on Thursday, February 26th. Morgan Stanley set a $48.50 target price on shares of IonQ in a research report on Thursday, May 7th. Jefferies Financial Group set a $85.00 target price on shares of IonQ in a research report on Thursday, May 7th. Finally, Wedbush reiterated an “outperform” rating and set a $60.00 target price on shares of IonQ in a research report on Monday, May 4th. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, IonQ currently has a consensus rating of “Moderate Buy” and an average price target of $68.63.

About IonQ

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.