IonQ, Inc. $IONQ Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its stake in shares of IonQ, Inc. (NYSE:IONQ) by 41.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 130,200 shares of the company’s stock after acquiring an additional 38,000 shares during the period. Handelsbanken Fonder AB’s holdings in IonQ were worth $6,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Accent Capital Management LLC grew its position in shares of IonQ by 171.8% during the fourth quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock worth $26,000 after acquiring an additional 371 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in IonQ by 216.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 959 shares of the company’s stock valued at $28,000 after purchasing an additional 656 shares during the period. PeakShares LLC bought a new position in IonQ in the 1st quarter worth about $29,000. Beaird Harris Wealth Management LLC grew its position in IonQ by 117.4% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock worth $31,000 after purchasing an additional 270 shares during the last quarter. Finally, MWA Asset Management acquired a new stake in shares of IonQ in the first quarter valued at approximately $32,000. 41.42% of the stock is currently owned by institutional investors.

Insider Activity

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

IonQ Price Performance

Shares of IONQ opened at $46.35 on Friday. The stock has a market capitalization of $17.66 billion, a P/E ratio of -9.95 and a beta of 3.28. 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 $45.79 and its 200-day moving average is $43.15.

IonQ (NYSE:IONQ) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.23. The business had revenue of $80.05 million during the quarter, compared to analyst estimates of $66.47 million. IonQ had a negative return on equity of 22.29% and a negative net margin of 553.27%.The company’s revenue was up 286.7% compared to the same quarter last year. During the same period last year, the company posted ($0.70) EPS. As a group, equities research analysts forecast that IonQ, Inc. will post -2.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on IONQ shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price target on shares of IonQ in a report on Thursday, August 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 price objective on shares of IonQ in a report on Thursday, August 6th. Northland Securities raised their target price on IonQ from $55.00 to $70.00 and gave the company an “outperform” rating in a research report on Monday, June 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of IonQ in a research note on Friday, August 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target on shares of IonQ in a research report on Thursday, August 6th. Nine analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.92.

IonQ Company 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.