IonQ (NYSE:IONQ) Stock Price Down 2.9%

Shares of IonQ, Inc. (NYSE:IONQGet Free Report) traded down 2.9% during trading on Thursday . The stock traded as low as $7.70 and last traded at $7.72. 1,707,696 shares changed hands during trading, a decline of 71% from the average session volume of 5,933,156 shares. The stock had previously closed at $7.95.

Analysts Set New Price Targets

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

View Our Latest Research Report on IONQ

IonQ Stock Down 2.5 %

The firm has a market cap of $1.64 billion, a PE ratio of -9.30 and a beta of 2.11. The company’s 50 day moving average price is $8.35 and its two-hundred day moving average price is $10.32.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Morgens Waterfall Vintiadis & Co. Inc. purchased a new position in IonQ during the 4th quarter valued at about $1,858,000. Norges Bank purchased a new position in IonQ during the 4th quarter valued at about $26,430,000. Charles Schwab Investment Management Inc. increased its position in IonQ by 11.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,291,698 shares of the company’s stock valued at $19,220,000 after purchasing an additional 127,499 shares during the period. Victory Capital Management Inc. increased its position in IonQ by 29.2% during the 4th quarter. Victory Capital Management Inc. now owns 48,083 shares of the company’s stock valued at $596,000 after purchasing an additional 10,855 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in IonQ by 23.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 244,808 shares of the company’s stock valued at $3,033,000 after purchasing an additional 46,680 shares during the period. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Company Profile

(Get 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.

Read More

Receive News & Ratings for IonQ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IonQ and related companies with MarketBeat.com's FREE daily email newsletter.