IonQ, Inc. (NYSE:IONQ) Short Interest Down 8.5% in March

IonQ, Inc. (NYSE:IONQ - Get Free Report) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 42,490,000 shares, a decline of 8.5% from the February 29th total of 46,440,000 shares. Based on an average daily trading volume, of 7,100,000 shares, the short-interest ratio is presently 6.0 days. Approximately 24.5% of the company's shares are short sold.

Analyst Ratings Changes

A number of research firms have weighed in on IONQ. The Goldman Sachs Group decreased 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 restated a "buy" rating and issued a $18.00 target price on shares of IonQ in a research note on Thursday, February 29th. Three 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 currently has an average rating of "Moderate Buy" and an average target price of $16.50.

Insider Activity

In related news, CTO Jungsang Kim sold 10,220 shares of the company's stock in a transaction on 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 directly owns 6,619,941 shares of the company's stock, valued at approximately $67,523,398.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Peter Hume Chapman sold 29,452 shares of the company's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.20, for a total transaction of $300,410.40. Following the completion of the sale, the chief executive officer now directly owns 451,233 shares of the company's stock, valued at approximately $4,602,576.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Jungsang Kim sold 10,220 shares of the company'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 $104,244.00. Following the sale, the chief technology officer now directly 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. Insiders sold 86,556 shares of company stock valued at $882,871 in the last ninety days. Company insiders own 13.00% of the company's stock.

Institutional Investors Weigh In On IonQ

Hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in shares of IonQ during the 2nd quarter valued at $28,000. Raymond James Financial Services Advisors Inc. bought a new position in IonQ during the 4th quarter valued at about $37,000. C M Bidwell & Associates Ltd. bought a new position in IonQ during the 2nd quarter valued at about $38,000. Harbour Investments Inc. lifted its holdings in IonQ by 193.2% during the 2nd quarter. Harbour Investments Inc. now owns 2,932 shares of the company's stock valued at $40,000 after purchasing an additional 1,932 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in IonQ during the 2nd quarter valued at about $44,000. Hedge funds and other institutional investors own 41.42% of the company's stock.

IonQ Stock Down 6.4 %

NYSE IONQ traded down $0.64 on Tuesday, hitting $9.35. The stock had a trading volume of 5,160,413 shares, compared to its average volume of 7,005,560. IonQ has a one year low of $5.29 and a one year high of $21.60. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -11.99 and a beta of 2.14. The company's 50-day moving average is $10.37 and its two-hundred day moving average is $12.01.

IonQ (NYSE:IONQ - Get Free Report) last posted its earnings results on Wednesday, February 28th. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.03. IonQ had a negative net margin of 715.77% and a negative return on equity of 28.27%. The firm had revenue of $6.11 million during the quarter, compared to analysts' expectations of $5.70 million. On average, sell-side analysts anticipate that IonQ will post -1.24 earnings per share for the current year.

IonQ Company 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.