Acme LLC Lowers Holdings in IonQ, Inc. $IONQ

Acme LLC lessened its holdings in IonQ, Inc. (NYSE:IONQ) by 96.4% in the fourth quarter, HoldingsChannel reports. The fund owned 3,752 shares of the company’s stock after selling 100,000 shares during the period. IonQ accounts for 1.7% of Acme LLC’s portfolio, making the stock its 2nd largest position. Acme LLC’s holdings in IonQ were worth $168,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Ameriflex Group Inc. lifted its position in shares of IonQ by 485.7% during the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock valued at $25,000 after acquiring an additional 340 shares during the period. Beaird Harris Wealth Management LLC grew its stake in IonQ by 117.4% during the third quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock worth $31,000 after buying an additional 270 shares in the last quarter. Accent Capital Management LLC grew its stake in 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 buying an additional 371 shares in the last quarter. Kelleher Financial Advisors bought a new position in IonQ in the 3rd quarter valued at about $36,000. Finally, Fortitude Family Office LLC increased its holdings in IonQ by 3,800.0% in the 4th quarter. Fortitude Family Office LLC now owns 624 shares of the company’s stock valued at $28,000 after buying an additional 608 shares during the period. 41.42% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IONQ. JPMorgan Chase & Co. upped their target price on IonQ from $42.00 to $50.00 and gave the stock a “neutral” rating 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 report on Monday, May 11th. Needham & Company LLC reduced their price objective on IonQ from $80.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Morgan Stanley set a $48.50 price objective on shares of IonQ in a research report on Thursday, May 7th. Finally, Northland Securities initiated coverage on shares of IonQ in a research note on Monday, April 20th. They issued an “outperform” rating and a $55.00 price objective for the company. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $68.63.

More IonQ News

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: Rosenblatt reaffirmed a Buy rating on IonQ with a $100 price target, reinforcing a bullish long-term view from analysts. Rosenblatt Reaffirms Buy on IonQ, Inc. (IONQ) with $100 Price Target
• Positive Sentiment: IonQ’s latest quarterly results showed record revenue of $64.7 million and very strong year-over-year growth, while management also raised full-year guidance and highlighted a large backlog of future contracted revenue. What IonQ’s revenue shock means for the entire sector
• Positive Sentiment: Sector enthusiasm remains high as investors continue to rotate into quantum-computing names, helped by optimism around commercialization, product catalysts, and long-term growth potential. D-Wave Leads Quantum Computing Stocks Higher as These Experts See More Gains Ahead
• Neutral Sentiment: IonQ is still drawing investor attention as a trending stock, keeping the name firmly on traders’ radar even as volatility remains elevated. Here is What to Know Beyond Why IonQ, Inc. (IONQ) is a Trending Stock
• Negative Sentiment: The quantum trade is reversing after Monday’s surge, with IonQ and other pure-play peers falling together as investors lock in gains and momentum fades. IonQ, Rigetti, D-Wave, and Quantum Computing Inc. All Fall 5% to 7% as the Quantum Rally Reverses

IonQ Price Performance

Shares of NYSE IONQ opened at $56.19 on Wednesday. The company has a 50 day simple moving average of $51.38 and a 200 day simple moving average of $44.79. IonQ, Inc. has a 1 year low of $25.89 and a 1 year high of $84.64. The firm has a market cap of $20.98 billion, a PE ratio of -200.69 and a beta of 3.18.

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

Insiders Place Their Bets

In related news, insider Robert T. Cardillo sold 3,773 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total value of $188,272.70. Following the completion of the sale, the insider directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by 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.