WINTON GROUP Ltd Buys New Shares in IonQ, Inc. $IONQ

WINTON GROUP Ltd bought a new stake in shares of IonQ, Inc. (NYSE:IONQ) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 216,236 shares of the company’s stock, valued at approximately $9,703,000. WINTON GROUP Ltd owned approximately 0.06% of IonQ as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in IonQ by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 34,774,743 shares of the company’s stock valued at $1,560,343,000 after purchasing an additional 5,420,037 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of IonQ by 21.9% in the fourth quarter. Geode Capital Management LLC now owns 8,074,301 shares of the company’s stock worth $361,624,000 after acquiring an additional 1,452,463 shares during the period. State Street Corp boosted its stake in shares of IonQ by 19.9% in the third quarter. State Street Corp now owns 6,299,559 shares of the company’s stock worth $387,423,000 after acquiring an additional 1,043,878 shares during the period. Norges Bank bought a new position in shares of IonQ in the fourth quarter worth about $199,753,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of IonQ by 12.5% in the third quarter. JPMorgan Chase & Co. now owns 3,008,001 shares of the company’s stock worth $184,992,000 after acquiring an additional 333,653 shares during the period. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

IonQ Trading Down 13.2%

NYSE:IONQ opened at $56.99 on Friday. The company has a market capitalization of $21.27 billion, a P/E ratio of -203.53 and a beta of 3.18. IonQ, Inc. has a 12 month low of $25.89 and a 12 month high of $84.64. The business’s 50-day moving average is $47.17 and its 200 day moving average is $44.19.

IonQ (NYSE:IONQ) last posted its 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). The firm had revenue of $64.67 million during the quarter, compared to analysts’ expectations of $49.75 million. IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.IonQ’s quarterly revenue was up 754.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. On average, research analysts forecast that IonQ, Inc. will post -2.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Benchmark dropped their price objective on IonQ from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Weiss Ratings raised IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. upped their price objective on IonQ from $42.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of IonQ in a research note on Monday, February 9th. Finally, Morgan Stanley set a $48.50 price objective on IonQ in a research note on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.63.

Insider Transactions at IonQ

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

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.