IonQ, Inc. (NYSE:IONQ) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in shares of IonQ, Inc. (NYSE:IONQ) by 16.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 115,782 shares of the company’s stock after buying an additional 16,642 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of IonQ worth $814,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of IonQ by 5.1% during the first quarter. Vanguard Group Inc. now owns 18,824,996 shares of the company’s stock worth $188,062,000 after purchasing an additional 918,265 shares during the last quarter. SG Americas Securities LLC grew its holdings in IonQ by 27.3% in the 2nd quarter. SG Americas Securities LLC now owns 2,654,531 shares of the company’s stock valued at $18,661,000 after buying an additional 569,906 shares during the period. Bank of New York Mellon Corp increased its stake in shares of IonQ by 16.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 916,536 shares of the company’s stock valued at $6,443,000 after acquiring an additional 131,439 shares during the last quarter. Hussman Strategic Advisors Inc. boosted its position in shares of IonQ by 126.7% in the first quarter. Hussman Strategic Advisors Inc. now owns 357,000 shares of the company’s stock worth $3,566,000 after acquiring an additional 199,500 shares during the last quarter. Finally, Swiss National Bank increased its position in IonQ by 14.8% during the first quarter. Swiss National Bank now owns 343,600 shares of the company’s stock worth $3,433,000 after purchasing an additional 44,200 shares during the last quarter. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IONQ. Craig Hallum lowered their price objective on shares of IonQ from $21.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Benchmark dropped their price target on IonQ from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, August 12th. The Goldman Sachs Group reduced their price objective on IonQ from $11.50 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $13.00 target price on shares of IonQ in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $12.00.

IonQ Trading Up 8.7 %

NYSE IONQ opened at $10.66 on Monday. The company’s fifty day simple moving average is $7.80 and its 200-day simple moving average is $8.02. The stock has a market cap of $2.28 billion, a P/E ratio of -13.49 and a beta of 2.05. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $16.23.

IonQ (NYSE:IONQ) last issued its earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.04. IonQ had a negative return on equity of 34.02% and a negative net margin of 525.13%. The company had revenue of $11.38 million during the quarter, compared to analyst estimates of $8.66 million. During the same quarter last year, the firm earned ($0.16) EPS. The business’s revenue was up 106.4% on a year-over-year basis. On average, research analysts expect that IonQ, Inc. will post -0.84 EPS for the current fiscal year.

About IonQ

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.