IonQ, Inc. $IONQ Stock Position Raised by Neuberger Berman Group LLC

Neuberger Berman Group LLC boosted its holdings in IonQ, Inc. (NYSE:IONQ) by 40.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 270,330 shares of the company’s stock after acquiring an additional 77,203 shares during the period. Neuberger Berman Group LLC owned about 0.09% of IonQ worth $11,616,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IONQ. Archer Investment Corp raised its position in shares of IonQ by 119.3% during the 2nd quarter. Archer Investment Corp now owns 592 shares of the company’s stock worth $25,000 after purchasing an additional 322 shares during the period. EverSource Wealth Advisors LLC grew its stake in IonQ by 50.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock worth $36,000 after buying an additional 279 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in IonQ in the second quarter worth $39,000. Huntington National Bank increased its position in IonQ by 2,034.0% in the second quarter. Huntington National Bank now owns 1,003 shares of the company’s stock worth $43,000 after buying an additional 956 shares during the period. Finally, TD Waterhouse Canada Inc. lifted its stake in IonQ by 28.4% in the second quarter. TD Waterhouse Canada Inc. now owns 1,008 shares of the company’s stock valued at $40,000 after buying an additional 223 shares during the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at IonQ

In other IonQ news, CRO Rima Alameddine sold 100,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $46.89, for a total value of $4,689,000.00. Following the completion of the sale, the executive directly owned 432,616 shares of the company’s stock, valued at approximately $20,285,364.24. This represents a 18.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William J. Teuber, Jr. acquired 2,000 shares of IonQ stock in a transaction dated Tuesday, November 11th. The shares were acquired at an average price of $54.81 per share, with a total value of $109,620.00. Following the transaction, the director owned 6,413 shares in the company, valued at approximately $351,496.53. This represents a 45.32% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on IONQ. Zacks Research upgraded shares of IonQ from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Cantor Fitzgerald lifted their price target on IonQ from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Benchmark increased their price objective on IonQ from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Needham & Company LLC restated a “buy” rating and issued a $80.00 target price on shares of IonQ in a research report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of IonQ in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $68.18.

IonQ Price Performance

Shares of NYSE:IONQ opened at $50.31 on Friday. The stock has a market cap of $17.48 billion, a price-to-earnings ratio of -9.40 and a beta of 2.62. IonQ, Inc. has a 12 month low of $17.88 and a 12 month high of $84.64. The stock’s 50 day moving average price is $57.13 and its 200 day moving average price is $49.80.

IonQ (NYSE:IONQ) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($3.14). IonQ had a negative net margin of 1,836.32% and a negative return on equity of 127.06%. The firm had revenue of $39.87 million for the quarter, compared to analyst estimates of $26.99 million. During the same quarter last year, the business posted ($0.24) earnings per share. The firm’s revenue for the quarter was up 221.5% compared to the same quarter last year. On average, sell-side analysts expect that IonQ, Inc. will post -0.86 EPS for the current year.

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.