Eurizon Capital SGR S.p.A. Takes $13.01 Million Position in IonQ, Inc. $IONQ

Eurizon Capital SGR S.p.A. acquired a new stake in IonQ, Inc. (NYSE:IONQ) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 289,857 shares of the company’s stock, valued at approximately $13,007,000.

Other large investors also recently modified their holdings of the company. Ameriflex Group Inc. raised its position in shares of IonQ by 485.7% in the third quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock valued at $25,000 after purchasing an additional 340 shares during the period. Accent Capital Management LLC raised its position in shares of IonQ by 171.8% in the fourth quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock valued at $26,000 after purchasing an additional 371 shares during the period. Fortitude Family Office LLC raised its position in shares of IonQ by 3,800.0% in the fourth quarter. Fortitude Family Office LLC now owns 624 shares of the company’s stock valued at $28,000 after purchasing an additional 608 shares during the period. UMB Bank n.a. bought a new position in shares of IonQ in the third quarter valued at about $31,000. Finally, Beaird Harris Wealth Management LLC raised its position in shares of IonQ by 117.4% in the third 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. 41.42% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IONQ has been the topic of several research analyst reports. Needham & Company LLC dropped their price objective on shares of IonQ from $80.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Northland Securities initiated coverage on shares of IonQ in a research report on Monday, April 20th. They issued an “outperform” rating and a $55.00 price objective on the stock. Wall Street Zen raised shares of IonQ from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Jefferies Financial Group set a $85.00 price objective on shares of IonQ in a research report on Thursday, May 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of IonQ in a research report on Monday, February 9th. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.63.

IonQ Stock Performance

NYSE:IONQ opened at $72.07 on Monday. IonQ, Inc. has a 52 week low of $25.89 and a 52 week high of $84.64. The firm has a market cap of $26.90 billion, a price-to-earnings ratio of -257.38 and a beta of 3.18. The firm’s 50-day simple moving average is $43.76 and its 200 day simple moving average is $43.55.

IonQ (NYSE:IONQ) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The business had revenue of $64.67 million for the quarter, compared to the consensus estimate of $49.75 million. During the same period in the prior year, the business posted ($0.14) earnings per share. IonQ’s revenue was up 754.7% compared to the same quarter last year. Sell-side analysts anticipate that IonQ, Inc. will post -2.26 EPS for the current year.

Insider Transactions at IonQ

In related news, insider John W. Raymond sold 2,800 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $33.34, for a total transaction of $93,352.00. Following the transaction, the insider directly owned 83,963 shares of the company’s stock, valued at approximately $2,799,326.42. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert T. Cardillo sold 3,773 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total transaction of $188,272.70. Following the transaction, the insider directly owned 139,967 shares in the company, valued at approximately $6,984,353.30. This represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.20% of the stock is currently owned by company insiders.

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.