IonQ, Inc. (NYSE:IONQ) Shares Purchased by Quest Partners LLC

Quest Partners LLC lifted its stake in shares of IonQ, Inc. (NYSE:IONQ) by 4,824.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,500 shares of the company’s stock after acquiring an additional 6,368 shares during the period. Quest Partners LLC’s holdings in IonQ were worth $46,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of IONQ. Mosley Wealth Management purchased a new stake in IonQ during the second quarter valued at about $81,000. Arizona State Retirement System increased its position in IonQ by 3.6% during the 2nd quarter. Arizona State Retirement System now owns 49,550 shares of the company’s stock worth $348,000 after purchasing an additional 1,731 shares in the last quarter. Foundations Investment Advisors LLC raised its holdings in IonQ by 99.5% in the second quarter. Foundations Investment Advisors LLC now owns 121,242 shares of the company’s stock valued at $852,000 after buying an additional 60,483 shares during the period. Rhumbline Advisers lifted its position in IonQ by 13.5% during the second quarter. Rhumbline Advisers now owns 295,918 shares of the company’s stock valued at $2,080,000 after buying an additional 35,158 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in IonQ by 40.6% during the second quarter. Principal Financial Group Inc. now owns 26,801 shares of the company’s stock worth $188,000 after buying an additional 7,744 shares during the period. 41.42% of the stock is owned by institutional investors and hedge funds.

IonQ Stock Performance

Shares of IONQ opened at $7.83 on Thursday. IonQ, Inc. has a one year low of $6.22 and a one year high of $16.60. The stock has a 50-day moving average price of $7.53 and a 200 day moving average price of $8.13. The company has a market capitalization of $1.66 billion, a P/E ratio of -9.43 and a beta of 2.04.

IonQ (NYSE:IONQ) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The business 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%. The business’s quarterly revenue was up 106.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.16) earnings per share. As a group, equities research analysts forecast that IonQ, Inc. will post -0.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IONQ has been the subject of several recent research reports. Craig Hallum lowered their price target on IonQ from $21.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Benchmark lowered their target price on IonQ from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, The Goldman Sachs Group reduced their price target on IonQ from $11.50 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

IonQ 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.