8,043 Shares in IonQ, Inc. $IONQ Bought by Arista Wealth Management LLC

Arista Wealth Management LLC acquired a new position in shares of IonQ, Inc. (NYSE:IONQ) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 8,043 shares of the company’s stock, valued at approximately $361,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada increased its position in IonQ by 12.5% during the first quarter. Royal Bank of Canada now owns 134,176 shares of the company’s stock worth $2,962,000 after buying an additional 14,898 shares during the last quarter. Amundi acquired a new position in IonQ during the first quarter worth $630,000. AQR Capital Management LLC increased its position in IonQ by 106.2% during the first quarter. AQR Capital Management LLC now owns 57,305 shares of the company’s stock worth $1,265,000 after buying an additional 29,513 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in IonQ by 24.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 450,031 shares of the company’s stock worth $9,932,000 after buying an additional 87,428 shares during the last quarter. Finally, Focus Partners Wealth increased its position in IonQ by 30.3% during the first quarter. Focus Partners Wealth now owns 46,782 shares of the company’s stock worth $1,032,000 after buying an additional 10,881 shares during the last quarter. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at IonQ

In related news, insider John W. Raymond sold 2,800 shares of IonQ stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $33.34, for a total transaction of $93,352.00. Following the sale, the insider directly owned 83,963 shares of the company’s stock, valued at $2,799,326.42. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William J. Teuber, Jr. bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were purchased at an average cost of $38.38 per share, for a total transaction of $115,140.00. Following the completion of the transaction, the director owned 9,413 shares of the company’s stock, valued at $361,270.94. This represents a 46.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 5.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on IONQ. DA Davidson lowered their target price on shares of IonQ from $55.00 to $35.00 and set a “neutral” rating on the stock in a research report on Thursday, February 26th. Morgan Stanley set a $48.50 target price on shares of IonQ in a research report on Thursday, May 7th. Benchmark lowered their target price on shares of IonQ from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Wall Street Zen raised shares of IonQ from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Finally, Needham & Company LLC lowered their price target on IonQ from $80.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, IonQ presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.63.

Key IonQ News

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: Investors are bidding up quantum stocks after the U.S. Department of Commerce announced $2.013 billion in CHIPS Act grants to nine quantum computing companies, which is seen as a major validation for the industry and a potential tailwind for IonQ. Article title: QTUM ETF Crosses $5 Billion Even As IBM, Rigetti, IonQ, D-Wave Cool Off
• Positive Sentiment: IonQ is benefiting from renewed attention on quantum computing and speculation that it could be a future beneficiary of the government’s broader quantum technology push, helping support the stock. Article title: What Is Going On With IonQ Stock On Tuesday?
• Neutral Sentiment: Coverage on “why quantum hype returned” reinforces the sector’s momentum, but it appears to be more about a broad sentiment shift than a direct operational catalyst for IonQ. Article title: IonQ: Why Quantum Hype Returned
• Negative Sentiment: One analyst-style comparison argued that QBTS may have stronger June upside than IonQ because of faster bookings growth, rising enterprise adoption, and more attractive implied gains, which could shift some investor attention away from IONQ. Article title: IONQ vs. QBTS: Which Quantum Stock Has More Upside Potential in June?
• Negative Sentiment: Some commentary warns that the IonQ story could get messier after SkyWater developments, suggesting execution and competitive concerns may create volatility for the stock. Article title: IonQ: Quantum Story May Get Messier After SkyWater

IonQ Stock Performance

Shares of NYSE:IONQ opened at $65.56 on Thursday. The company has a market cap of $24.47 billion, a P/E ratio of -234.14 and a beta of 3.05. The stock’s 50-day moving average is $42.23 and its 200-day moving average is $43.36. IonQ, Inc. has a 52-week low of $25.89 and a 52-week high of $84.64.

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

About IonQ

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.