IonQ, Inc. (NYSE:IONQ) Short Interest Update

IonQ, Inc. (NYSE:IONQ) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 39,300,000 shares, a decrease of 6.7% from the October 15th total of 42,140,000 shares. Based on an average daily volume of 12,810,000 shares, the short-interest ratio is presently 3.1 days. Currently, 21.2% of the shares of the stock are sold short.

Insider Activity

In other news, CRO Rima Alameddine sold 22,875 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.75, for a total value of $406,031.25. Following the transaction, the executive now directly owns 592,658 shares of the company’s stock, valued at $10,519,679.50. The trade was a 3.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 66,000 shares of company stock worth $972,331. Company insiders own 11.60% of the company’s stock.

Institutional Trading of IonQ

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of IonQ by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 18,824,996 shares of the company’s stock valued at $188,062,000 after acquiring an additional 918,265 shares during the last quarter. Geode Capital Management LLC raised its position in shares of IonQ by 4.7% during the 3rd 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 last quarter. State Street Corp raised its position in shares of IonQ by 1.8% during the 3rd quarter. State Street Corp now owns 4,260,880 shares of the company’s stock valued at $37,240,000 after acquiring an additional 75,596 shares during the last quarter. SG Americas Securities LLC raised its position in shares of IonQ by 27.3% during the 2nd quarter. SG Americas Securities LLC now owns 2,654,531 shares of the company’s stock valued at $18,661,000 after acquiring an additional 569,906 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of IonQ by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock valued at $14,107,000 after acquiring an additional 135,851 shares during the last quarter. Institutional investors own 41.42% of the company’s stock.

Analyst Upgrades and Downgrades

IONQ has been the topic of several recent analyst reports. Craig Hallum boosted their target price on IonQ from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC boosted their target price on IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Benchmark boosted their target price on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, 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 report on Friday, August 9th.

IonQ Stock Performance

NYSE:IONQ opened at $28.21 on Monday. The stock’s fifty day moving average price is $13.00 and its two-hundred day moving average price is $9.62. IonQ has a 52-week low of $6.22 and a 52-week high of $29.48. The company has a market cap of $6.04 billion, a price-to-earnings ratio of -35.97 and a beta of 1.89.

IonQ (NYSE:IONQ) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $12.40 million for the quarter, compared to analyst estimates of $10.56 million. During the same period in the prior year, the company posted ($0.22) EPS. The firm’s quarterly revenue was up 102.1% compared to the same quarter last year. On average, equities analysts predict that IonQ will post -0.86 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.