Man Group plc Purchases Shares of 26,798 IonQ, Inc. $IONQ

Man Group plc acquired a new position in IonQ, Inc. (NYSE:IONQ) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 26,798 shares of the company’s stock, valued at approximately $1,427,000.

Several other institutional investors also recently modified their holdings of the company. Accent Capital Management LLC raised its stake in shares of IonQ by 171.8% in the fourth quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock valued at $26,000 after purchasing an additional 371 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in IonQ by 216.5% during the first quarter. EverSource Wealth Advisors LLC now owns 959 shares of the company’s stock worth $28,000 after buying an additional 656 shares in the last quarter. PeakShares LLC acquired a new stake in IonQ during the first quarter worth $29,000. EFG International AG bought a new stake in IonQ in the 2nd quarter valued at $30,000. Finally, Beaird Harris Wealth Management LLC increased its holdings in IonQ by 117.4% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock valued at $31,000 after buying an additional 270 shares during the period. Institutional investors and hedge funds own 41.42% of the company’s stock.

IonQ Stock Performance

Shares of NYSE:IONQ opened at $37.65 on Thursday. IonQ, Inc. has a 52 week low of $25.89 and a 52 week high of $84.64. The company’s fifty day moving average is $41.66 and its 200-day moving average is $43.52. The company has a market capitalization of $14.35 billion, a PE ratio of -8.08 and a beta of 3.30.

IonQ (NYSE:IONQ) last announced its earnings results on Wednesday, August 5th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.23. IonQ had a negative net margin of 553.27% and a negative return on equity of 22.29%. The business had revenue of $80.05 million during the quarter, compared to analysts’ expectations of $66.47 million. During the same quarter last year, the company posted ($0.70) EPS. The firm’s revenue for the quarter was up 286.7% on a year-over-year basis. On average, analysts forecast that IonQ, Inc. will post -2.86 EPS for the current year.

Insiders Place Their Bets

In other IonQ news, insider John W. Raymond sold 3,815 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $55.01, for a total transaction of $209,863.15. Following the sale, the insider directly owned 80,148 shares of the company’s stock, valued at approximately $4,408,941.48. This represents a 4.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gabrielle B. Toledano sold 2,757 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $55.01, for a total transaction of $151,662.57. Following the sale, the director directly owned 11,154 shares of the company’s stock, valued at approximately $613,581.54. The trade was a 19.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 9,329 shares of company stock valued at $513,216. 0.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

IONQ has been the subject of a number of analyst reports. Wedbush began coverage on shares of IonQ in a report on Monday, August 3rd. They set an “outperform” rating and a $75.00 price objective for the company. Wall Street Zen cut shares of IonQ from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price target on shares of IonQ in a research report on Thursday, August 6th. Jefferies Financial Group set a $75.00 price target on shares of IonQ in a research note on Thursday, August 6th. Finally, Weiss Ratings downgraded IonQ from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.92.

IonQ 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.