9,977 Shares in IonQ, Inc. $IONQ Bought by M&T Bank Corp

M&T Bank Corp bought a new position in shares of IonQ, Inc. (NYSE:IONQ) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 9,977 shares of the company’s stock, valued at approximately $448,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clear Street Group Inc. purchased a new position in IonQ during the 3rd quarter worth $61,488,000. Western Wealth Management LLC grew its stake in IonQ by 222.8% during the 3rd quarter. Western Wealth Management LLC now owns 23,762 shares of the company’s stock valued at $1,461,000 after purchasing an additional 16,400 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in IonQ by 56.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 47,545 shares of the company’s stock valued at $2,924,000 after purchasing an additional 17,215 shares during the last quarter. Penserra Capital Management LLC grew its stake in IonQ by 64.3% during the 3rd quarter. Penserra Capital Management LLC now owns 800,141 shares of the company’s stock valued at $49,208,000 after purchasing an additional 313,008 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in IonQ by 151.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 83,265 shares of the company’s stock valued at $3,736,000 after purchasing an additional 50,155 shares during the last quarter. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Key IonQ News

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: SkyWater shareholders approved IonQ’s $1.8 billion merger, a step that could strengthen IonQ’s manufacturing capabilities and improve its competitive positioning in quantum hardware. IonQ surges after SkyWater shareholders approve $1.8B merger
• Positive Sentiment: Investor sentiment toward quantum computing has improved broadly, with money rotating into the sector after strong revenue beats and momentum in peer stocks, which is helping lift IonQ along with the group. Prediction: IonQ Price Target Soars With a 383% Upside in 12 Months
• Neutral Sentiment: Some commentary remains divided, with one report arguing IonQ still faces headwinds despite the quantum hype and suggesting the stock may be overextended after its sharp run. Prediction: IonQ Faces Headwinds That Could Push It Lower Despite Quantum Hype
• Negative Sentiment: There was also mention of insider selling, which can be a modest warning sign for investors looking for management confidence in the stock’s near-term upside. Insider Selling: IonQ (NYSE:IONQ) Insider Sells $188,272.70 in Stock

Insider Transactions at IonQ

In other news, insider Robert T. Cardillo sold 3,773 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total value of $188,272.70. Following the sale, the insider owned 139,967 shares in the company, valued at $6,984,353.30. This represents a 2.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John W. Raymond sold 2,800 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $33.34, for a total value of $93,352.00. Following the completion of the sale, the insider owned 83,963 shares in the company, valued at $2,799,326.42. The trade was a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,354 shares of company stock worth $504,428 over the last quarter. 5.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on IONQ. Jefferies Financial Group set a $85.00 price target on IonQ in a research note on Thursday, May 7th. Weiss Ratings upgraded IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Monday. DA Davidson dropped their price target on IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a research note on Thursday, February 26th. Needham & Company LLC dropped their price target on IonQ from $80.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $100.00 price target on shares of IonQ in a research note 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 given a Sell rating to the company. According to MarketBeat, IonQ has an average rating of “Moderate Buy” and a consensus target price of $68.63.

IonQ Stock Down 1.7%

Shares of IONQ opened at $55.92 on Wednesday. IonQ, Inc. has a 52 week low of $25.89 and a 52 week high of $84.64. The company has a market capitalization of $20.50 billion, a price-to-earnings ratio of -199.71 and a beta of 3.05. The stock’s 50-day moving average price is $37.42 and its 200-day moving average price is $43.48.

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.