Norges Bank Acquires New Holdings in IonQ, Inc. $IONQ

Norges Bank acquired a new stake in shares of IonQ, Inc. (NYSE:IONQ) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 4,451,819 shares of the company’s stock, valued at approximately $199,753,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. raised its position in IonQ by 485.7% during the third quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock valued at $25,000 after acquiring an additional 340 shares in the last quarter. Accent Capital Management LLC raised its position in IonQ by 171.8% during the fourth quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock valued at $26,000 after acquiring an additional 371 shares in the last quarter. Fortitude Family Office LLC raised its position in IonQ by 3,800.0% during the fourth quarter. Fortitude Family Office LLC now owns 624 shares of the company’s stock valued at $28,000 after acquiring an additional 608 shares in the last quarter. UMB Bank n.a. bought a new position in IonQ during the third quarter valued at approximately $31,000. Finally, Beaird Harris Wealth Management LLC raised its position in IonQ by 117.4% during the third quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock valued at $31,000 after acquiring an additional 270 shares in the last quarter. Institutional investors own 41.42% of the company’s stock.

Insiders Place Their Bets

In related news, insider John W. Raymond sold 2,800 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $33.34, for a total transaction of $93,352.00. Following the transaction, the insider owned 83,963 shares of the company’s stock, valued at approximately $2,799,326.42. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert T. Cardillo sold 3,773 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total transaction of $188,272.70. Following the transaction, the insider directly owned 139,967 shares in the company, valued at $6,984,353.30. This trade represents a 2.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 5.20% of the company’s stock.

Key Headlines Impacting IonQ

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: IonQ opened a 22,000-square-foot quantum R&D lab in Boulder, Colorado, which should support product development and help accelerate the rollout of its first commercial machine by year-end. Article: IonQ just opened a 22,000-square-foot quantum R&D lab in Boulder, Colorado — semiconductor ion trap chips set to power the company’s first commercial machine by year-end
• Positive Sentiment: Several recent articles highlighted IonQ’s rapid revenue growth, strong government and education demand, and its expanding role in sovereign quantum infrastructure and national-security projects, all of which reinforce the bullish long-term investment case. Article: IonQ: Unique Trapped Ion Technology To Sustain Rapid Growth
• Neutral Sentiment: Zacks noted that IonQ has been attracting investor attention, which signals elevated interest in the stock but does not itself change the company’s fundamentals. Article: IonQ, Inc. (IONQ) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: Coverage questioning whether IonQ could reach $100 reflects strong momentum and optimism, but it is mostly sentiment-driven rather than a new business development. Article: Is IonQ Stock Going to $100?
• Negative Sentiment: Some commentary noted that IonQ’s valuation has become harder to justify after the recent rally, especially as the company is still posting large losses despite fast revenue growth. Article: IonQ’s Sovereign Quantum Role Fuels Rerating And Valuation Questions

Analyst Ratings Changes

Several equities analysts recently weighed in on IONQ shares. Needham & Company LLC cut their price objective on shares of IonQ from $80.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. DA Davidson cut their price objective 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 price objective on shares of IonQ in a research report on Thursday, May 7th. Benchmark dropped their price target 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. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of IonQ in a research report on Monday, February 9th. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, IonQ presently has a consensus rating of “Moderate Buy” and an average target price of $68.63.

IonQ Stock Up 3.2%

NYSE:IONQ opened at $71.49 on Wednesday. IonQ, Inc. has a 12 month low of $25.89 and a 12 month high of $84.64. The firm has a market cap of $26.69 billion, a price-to-earnings ratio of -255.34 and a beta of 3.18. The company’s 50 day moving average is $44.51 and its 200-day moving average is $43.66.

IonQ (NYSE:IONQ) last released its quarterly 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). IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The firm had revenue of $64.67 million during the quarter, compared to the consensus estimate of $49.75 million. During the same period in the prior year, the business earned ($0.14) EPS. The company’s revenue for the quarter was up 754.7% compared to the same quarter last year. Research analysts predict that IonQ, Inc. will post -2.26 EPS for the current fiscal 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. 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.