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

IonQ, Inc. (NYSE:IONQ) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 34,880,000 shares, a drop of 8.3% from the August 31st total of 38,030,000 shares. Currently, 19.0% of the company’s stock are sold short. Based on an average daily trading volume, of 4,620,000 shares, the short-interest ratio is currently 7.5 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Quest Partners LLC boosted its holdings in IonQ by 4,824.2% in the 2nd quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock worth $46,000 after buying an additional 6,368 shares during the period. Redwood Wealth Management Group LLC bought a new position in IonQ in the 2nd quarter worth approximately $67,000. Prospect Financial Services LLC bought a new position in IonQ in the 4th quarter worth approximately $124,000. Mosley Wealth Management bought a new position in IonQ in the 2nd quarter worth approximately $81,000. Finally, QCM Cayman Ltd. bought a new position in IonQ in the 1st quarter worth approximately $120,000. 41.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IONQ has been the subject of several analyst reports. Benchmark decreased their price objective on shares of IonQ from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Craig Hallum decreased 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. Finally, The Goldman Sachs Group reduced their target price on shares of IonQ from $11.50 to $8.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, IonQ presently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

IonQ Price Performance

Shares of IonQ stock traded down $0.58 on Tuesday, reaching $8.16. 12,239,914 shares of the company traded hands, compared to its average volume of 5,799,698. IonQ has a 52 week low of $6.22 and a 52 week high of $16.60. The company has a 50 day moving average of $7.52 and a 200 day moving average of $8.02. The firm has a market capitalization of $1.73 billion, a PE ratio of -9.94 and a beta of 2.04.

IonQ (NYSE:IONQ) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.04. The company had revenue of $11.38 million during the quarter, compared to the consensus estimate of $8.66 million. IonQ had a negative net margin of 525.13% and a negative return on equity of 34.02%. IonQ’s revenue for the quarter was up 106.4% on a year-over-year basis. During the same period last year, the firm earned ($0.16) EPS. As a group, analysts anticipate that IonQ will post -0.84 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.