Baader Bank Aktiengesellschaft Acquires Shares of 5,600 IonQ, Inc. (NYSE:IONQ)

Baader Bank Aktiengesellschaft bought a new stake in shares of IonQ, Inc. (NYSE:IONQ) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,600 shares of the company’s stock, valued at approximately $234,000.

A number of other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC raised its stake in shares of IonQ by 4.7% in the third quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company’s stock valued at $38,640,000 after acquiring an additional 199,360 shares during the period. State Street Corp lifted its stake in IonQ by 1.8% in the third quarter. State Street Corp now owns 4,260,880 shares of the company’s stock worth $37,240,000 after purchasing an additional 75,596 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of IonQ by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock valued at $14,107,000 after buying an additional 135,851 shares during the period. FMR LLC grew its stake in shares of IonQ by 7.2% during the third quarter. FMR LLC now owns 612,625 shares of the company’s stock valued at $5,354,000 after buying an additional 41,125 shares during the last quarter. Finally, Carnegie Investment Counsel bought a new stake in shares of IonQ during the 3rd quarter worth approximately $5,036,000. Institutional investors own 41.42% of the company’s stock.

IonQ Stock Performance

NYSE:IONQ opened at $39.58 on Friday. The firm has a 50-day simple moving average of $38.22 and a 200-day simple moving average of $20.67. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74. The firm has a market cap of $8.56 billion, a P/E ratio of -48.86 and a beta of 2.43.

IonQ (NYSE:IONQ) last posted its earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The company had revenue of $12.40 million for the quarter, compared to analysts’ expectations of $10.56 million. During the same quarter in the prior year, the company earned ($0.22) EPS. The firm’s quarterly revenue was up 102.1% on a year-over-year basis. On average, research analysts predict that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Needham & Company LLC upped their price objective on IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Craig Hallum raised their price target on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. DA Davidson started coverage on shares of IonQ in a research report on Thursday, December 19th. They issued a “buy” rating and a $50.00 price objective for the company. Benchmark raised their target price on shares of IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their price target on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 10th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Insider Activity at IonQ

In other IonQ news, CFO Thomas G. Kramer sold 9,780 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total value of $290,661.60. Following the completion of the sale, the chief financial officer now directly owns 926,114 shares in the company, valued at $27,524,108.08. This trade represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Rima Alameddine sold 21,337 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total value of $634,349.01. Following the transaction, the executive now directly owns 571,321 shares in the company, valued at approximately $16,985,373.33. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,223 shares of company stock valued at $1,314,652 over the last quarter. 11.60% of the stock is owned by corporate 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.