Nordea Investment Management AB Invests $1.16 Million in IonQ, Inc. $IONQ

Nordea Investment Management AB purchased a new stake in IonQ, Inc. (NYSE:IONQ) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,097 shares of the company’s stock, valued at approximately $1,155,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Stone House Investment Management LLC boosted its stake in shares of IonQ by 700.0% during the 3rd quarter. Stone House Investment Management LLC now owns 400 shares of the company’s stock valued at $25,000 after buying an additional 350 shares during the last quarter. Ameriflex Group Inc. raised its stake in shares of IonQ by 485.7% in the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock valued at $25,000 after purchasing an additional 340 shares in the last quarter. Hilltop National Bank grew its stake in IonQ by 112.5% in the third quarter. Hilltop National Bank now owns 425 shares of the company’s stock worth $26,000 after purchasing an additional 225 shares in the last quarter. Financial Consulate Inc. bought a new stake in IonQ in the third quarter valued at about $29,000. Finally, UMB Bank n.a. acquired a new stake in IonQ during the third quarter valued at approximately $31,000. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of IonQ in a research report on Thursday, January 22nd. Wedbush assumed coverage on IonQ in a research note on Wednesday, December 17th. They set an “outperform” rating and a $60.00 price objective on the stock. Needham & Company LLC decreased their price objective on shares of IonQ from $80.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Wall Street Zen upgraded shares of IonQ from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $100.00 target price on shares of IonQ in a report on Thursday, February 26th. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.45.

Insider Activity at IonQ

In related news, insider Robert T. Cardillo sold 5,165 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $39.44, for a total transaction of $203,707.60. Following the completion of the transaction, the insider owned 112,291 shares in the company, valued at $4,428,757.04. The trade was a 4.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William J. Teuber, Jr. acquired 3,000 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were bought at an average price 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 in the company, valued at $361,270.94. The trade was a 46.78% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 8,581 shares of company stock worth $316,156 in the last 90 days. 5.20% of the stock is currently owned by company insiders.

IonQ Trading Down 7.8%

NYSE:IONQ opened at $27.51 on Friday. The stock has a 50 day moving average of $36.52 and a 200-day moving average of $49.33. The firm has a market capitalization of $10.09 billion, a PE ratio of -11.05 and a beta of 2.61. IonQ, Inc. has a 52 week low of $18.81 and a 52 week high of $84.64.

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.