Danske Bank A S Buys Shares of 168,000 IonQ, Inc. $IONQ

Danske Bank A S bought a new stake in IonQ, Inc. (NYSE:IONQ) in the second quarter, Holdings Channel.com reports. The institutional investor bought 168,000 shares of the company’s stock, valued at approximately $8,948,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Accent Capital Management LLC lifted its stake in IonQ by 171.8% in the 4th quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock worth $26,000 after acquiring an additional 371 shares in the last quarter. EverSource Wealth Advisors LLC grew 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 acquiring an additional 656 shares in the last quarter. PeakShares LLC acquired a new position in shares of IonQ in the 1st quarter valued at about $29,000. Beaird Harris Wealth Management LLC increased its holdings in shares of IonQ by 117.4% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock valued at $31,000 after purchasing an additional 270 shares during the period. Finally, MWA Asset Management purchased a new stake in shares of IonQ in the first quarter worth approximately $32,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on IONQ. Needham & Company LLC reissued a “buy” rating and set a $65.00 price objective on shares of IonQ in a research report on Thursday, August 6th. Benchmark reaffirmed a “buy” rating and set a $60.00 price target on shares of IonQ in a research note on Thursday, August 6th. Northland Securities boosted their price target on IonQ from $55.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price objective on shares of IonQ in a report on Thursday, August 6th. Finally, Wall Street Zen cut shares of IonQ from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Nine equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.92.

Insider Activity

In other IonQ news, Director Gabrielle B. Toledano sold 2,757 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $55.01, for a total value of $151,662.57. Following the completion of the sale, the director owned 11,154 shares in the company, valued at approximately $613,581.54. This trade represents a 19.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John W. Raymond sold 3,815 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $55.01, for a total transaction 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. Over the last ninety days, insiders sold 9,329 shares of company stock worth $513,216. 0.55% of the stock is owned by corporate insiders.

IonQ Stock Performance

Shares of IONQ stock opened at $44.95 on Friday. The firm has a fifty day moving average of $44.36 and a 200-day moving average of $43.17. The stock has a market cap of $17.13 billion, a price-to-earnings ratio of -9.65 and a beta of 3.28. IonQ, Inc. has a 52-week low of $25.89 and a 52-week high of $84.64.

IonQ (NYSE:IONQ) last posted its earnings results on Wednesday, August 5th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.23. IonQ had a negative return on equity of 22.29% and a negative net margin of 553.27%.The business had revenue of $80.05 million during the quarter, compared to the consensus estimate of $66.47 million. During the same quarter last year, the company earned ($0.70) EPS. IonQ’s revenue was up 286.7% on a year-over-year basis. On average, sell-side analysts predict that IonQ, Inc. will post -2.86 earnings per share for the current year.

IonQ 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.