Jupiter Topco LLC Takes Position in IonQ, Inc. $IONQ

Jupiter Topco LLC purchased a new position in shares of IonQ, Inc. (NYSE:IONQ) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 104,768 shares of the company’s stock, valued at approximately $5,581,000.

A number of other large investors have also recently added to or reduced their stakes in IONQ. Royal Bank of Canada raised its position in IonQ by 12.5% during the first quarter. Royal Bank of Canada now owns 134,176 shares of the company’s stock worth $2,962,000 after acquiring an additional 14,898 shares during the last quarter. Amundi acquired a new stake in shares of IonQ in the first quarter valued at approximately $630,000. AQR Capital Management LLC grew its position in shares of IonQ by 106.2% in the first quarter. AQR Capital Management LLC now owns 57,305 shares of the company’s stock valued at $1,265,000 after purchasing an additional 29,513 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of IonQ by 24.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 450,031 shares of the company’s stock valued at $9,932,000 after purchasing an additional 87,428 shares during the last quarter. Finally, Focus Partners Wealth increased its stake in shares of IonQ by 30.3% during the 1st quarter. Focus Partners Wealth now owns 46,782 shares of the company’s stock worth $1,032,000 after purchasing an additional 10,881 shares in the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

IonQ Price Performance

NYSE:IONQ opened at $39.31 on Tuesday. The firm has a market cap of $14.98 billion, a PE ratio of -8.44 and a beta of 3.28. The firm has a 50 day simple moving average of $42.37 and a 200-day simple moving average of $43.45. IonQ, Inc. has a 1-year low of $25.89 and a 1-year high of $84.64.

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. The firm had revenue of $80.05 million for the quarter, compared to analyst estimates of $66.47 million. IonQ had a negative net margin of 553.27% and a negative return on equity of 22.29%. IonQ’s revenue was up 286.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.70) earnings per share. As a group, sell-side analysts expect that IonQ, Inc. will post -2.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Benchmark restated a “buy” rating and set a $60.00 price objective on shares of IonQ in a research report on Thursday, August 6th. Weiss Ratings cut IonQ from a “sell (d+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. Needham & Company LLC reissued a “buy” rating and set a $65.00 price target on shares of IonQ in a research report on Thursday, August 6th. Wall Street Zen cut IonQ from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Finally, Jefferies Financial Group set a $75.00 price objective on IonQ in a research report on Thursday, August 6th. Nine equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, IonQ currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.92.

Insider Transactions at IonQ

In other news, Director Gabrielle B. Toledano sold 2,757 shares of the firm’s stock in a transaction 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 owned 11,154 shares in the company, valued at $613,581.54. This trade represents a 19.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathryn K. Chou sold 2,757 shares of IonQ stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $55.02, for a total value of $151,690.14. Following the completion of the sale, the director directly owned 62,608 shares of the company’s stock, valued at approximately $3,444,692.16. This represents a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,329 shares of company stock worth $513,216 over the last quarter. 0.55% of the stock is currently owned by insiders.

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.