Norges Bank Invests $26.43 Million in IonQ, Inc. (NYSE:IONQ)

Norges Bank purchased a new stake in shares of IonQ, Inc. (NYSE:IONQFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,133,197 shares of the company’s stock, valued at approximately $26,430,000. Norges Bank owned about 1.04% of IonQ at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of IonQ by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 17,712,807 shares of the company’s stock worth $263,567,000 after acquiring an additional 376,629 shares in the last quarter. Northern Trust Corp increased its position in IonQ by 3.0% in the third quarter. Northern Trust Corp now owns 1,498,567 shares of the company’s stock worth $22,299,000 after purchasing an additional 43,237 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in IonQ by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,321,275 shares of the company’s stock valued at $16,371,000 after purchasing an additional 29,577 shares in the last quarter. Carnegie Capital Asset Management LLC lifted its position in IonQ by 4.1% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 517,134 shares of the company’s stock valued at $6,407,000 after purchasing an additional 20,540 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of IonQ by 282.9% in the 3rd quarter. Invesco Ltd. now owns 453,221 shares of the company’s stock worth $6,744,000 after buying an additional 334,856 shares in the last quarter. 41.42% of the stock is owned by institutional investors.

Insider Transactions at IonQ

In related news, CTO Jungsang Kim sold 10,220 shares of IonQ stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.20, for a total transaction of $104,244.00. Following the completion of the sale, the chief technology officer now owns 6,619,941 shares in the company, valued at approximately $67,523,398.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CRO Rima Alameddine sold 27,212 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $10.20, for a total transaction of $277,562.40. Following the transaction, the executive now owns 697,647 shares in the company, valued at $7,115,999.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Jungsang Kim sold 10,220 shares of IonQ stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $10.20, for a total value of $104,244.00. Following the completion of the sale, the chief technology officer now owns 6,619,941 shares of the company’s stock, valued at $67,523,398.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,556 shares of company stock worth $882,871. Insiders own 11.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IONQ. Needham & Company LLC restated a “buy” rating and set a $18.00 target price on shares of IonQ in a research report on Thursday, May 16th. The Goldman Sachs Group lowered their price objective on IonQ from $13.00 to $11.50 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Read Our Latest Stock Report on IonQ

IonQ Price Performance

Shares of NYSE IONQ opened at $8.15 on Friday. IonQ, Inc. has a 1 year low of $6.98 and a 1 year high of $21.60. The firm has a 50-day simple moving average of $8.62 and a two-hundred day simple moving average of $10.58. The company has a market cap of $1.72 billion, a P/E ratio of -9.82 and a beta of 2.17.

IonQ (NYSE:IONQGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. The firm had revenue of $7.58 million during the quarter, compared to analyst estimates of $7.08 million. IonQ had a negative return on equity of 31.76% and a negative net margin of 671.00%. IonQ’s quarterly revenue was up 76.9% compared to the same quarter last year. During the same period last year, the company earned ($0.14) EPS. As a group, equities research analysts expect that IonQ, Inc. will post -0.89 EPS for the current year.

About IonQ

(Free Report)

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.

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Institutional Ownership by Quarter for IonQ (NYSE:IONQ)

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