Short Interest in IonQ, Inc. (NYSE:IONQ) Decreases By 8.5%

IonQ, Inc. (NYSE:IONQGet Free Report) was the target of a large decline in short interest during 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 trading volume of 7,100,000 shares, the days-to-cover ratio is currently 6.0 days. Currently, 24.5% of the shares of the company are sold short.

Insider Activity

In other news, CTO Jungsang Kim sold 10,220 shares of the business’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Peter Hume Chapman sold 29,452 shares of the firm’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 $300,410.40. Following the sale, the chief executive officer now owns 451,233 shares of the company’s stock, valued at approximately $4,602,576.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jungsang Kim sold 10,220 shares of IonQ stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.20, for a total value of $104,244.00. Following the transaction, the chief technology officer now owns 6,619,941 shares of the company’s stock, valued at approximately $67,523,398.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,556 shares of company stock worth $882,871. 13.00% of the stock is currently owned by insiders.

Institutional Trading of IonQ

Large investors have recently bought and sold shares of the company. C M Bidwell & Associates Ltd. purchased a new position in shares of IonQ during the 2nd quarter worth approximately $38,000. Harbour Investments Inc. boosted its holdings in shares of 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. KBC Group NV bought a new position in shares of IonQ in the 4th quarter valued at about $50,000. Nisa Investment Advisors LLC lifted its stake in IonQ by 32.9% in the third quarter. Nisa Investment Advisors LLC now owns 4,038 shares of the company’s stock worth $60,000 after purchasing an additional 1,000 shares during the last quarter. Finally, FNY Investment Advisers LLC increased its position in shares of IonQ by 28.0% during the fourth quarter. FNY Investment Advisers LLC now owns 4,532 shares of the company’s stock worth $56,000 after acquiring an additional 990 shares during the period. 41.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group reduced their price objective on shares of IonQ from $13.00 to $11.50 and set a “neutral” rating for the company in a research note on Thursday, February 29th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of IonQ in a report 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.com, IonQ presently has a consensus rating of “Moderate Buy” and an average target price of $16.50.

View Our Latest Analysis on IONQ

IonQ Price Performance

IONQ traded down $0.64 on Tuesday, hitting $9.35. The company had a trading volume of 5,160,413 shares, compared to its average volume of 7,005,560. The company’s fifty day moving average price is $10.32 and its 200 day moving average price is $11.96. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -11.99 and a beta of 2.14. IonQ has a 1-year low of $5.29 and a 1-year high of $21.60.

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

About IonQ

(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.

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