Handelsbanken Fonder AB Boosts Holdings in IonQ, Inc. (NYSE:IONQ)

Handelsbanken Fonder AB grew its position in shares of IonQ, Inc. (NYSE:IONQ) by 59.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,400 shares of the company’s stock after purchasing an additional 13,200 shares during the period. Handelsbanken Fonder AB’s holdings in IonQ were worth $439,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in IONQ. FNY Investment Advisers LLC grew its holdings in IonQ by 28.0% during the 4th quarter. FNY Investment Advisers LLC now owns 4,532 shares of the company’s stock worth $56,000 after acquiring an additional 990 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in IonQ by 32.9% in the third quarter. Nisa Investment Advisors LLC now owns 4,038 shares of the company’s stock worth $60,000 after purchasing an additional 1,000 shares in the last quarter. C M Bidwell & Associates Ltd. increased its holdings in IonQ by 61.2% in the third quarter. C M Bidwell & Associates Ltd. now owns 4,542 shares of the company’s stock valued at $68,000 after buying an additional 1,724 shares during the last quarter. Daymark Wealth Partners LLC bought a new stake in IonQ in the fourth quarter valued at about $149,000. Finally, Precision Wealth Strategies LLC acquired a new stake in IonQ during the third quarter valued at approximately $151,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Stock Performance

NYSE:IONQ opened at $8.75 on Thursday. IonQ, Inc. has a 1 year low of $5.29 and a 1 year high of $21.60. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -11.21 and a beta of 2.14. The business has a fifty day moving average of $9.26 and a 200-day moving average of $11.03.

IonQ (NYSE:IONQ) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.03. IonQ had a negative return on equity of 28.27% and a negative net margin of 715.77%. The company had revenue of $6.11 million during the quarter, compared to analysts’ expectations of $5.70 million. On average, equities research analysts predict that IonQ, Inc. will post -1.24 EPS for the current year.

Insider Activity

In other news, CTO Jungsang Kim sold 10,220 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $10.20, for a total value of $104,244.00. Following the completion of the sale, the chief technology officer now owns 6,619,941 shares in the company, valued at $67,523,398.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CTO Jungsang Kim sold 10,220 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $10.20, for a total transaction of $104,244.00. Following the completion of the sale, the chief technology officer now directly owns 6,619,941 shares of the company’s stock, valued at $67,523,398.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Thomas G. Kramer sold 19,672 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.20, for a total value of $200,654.40. Following the sale, the chief financial officer now directly owns 954,224 shares of the company’s stock, valued at $9,733,084.80. The disclosure for this sale can be found here. Insiders sold a total of 86,556 shares of company stock worth $882,871 over the last 90 days. 13.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on IONQ. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target on shares of IonQ in a report on Thursday, February 29th. The Goldman Sachs Group lowered their price target on IonQ from $13.00 to $11.50 and set a “neutral” rating for the company in a report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

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.