SG Americas Securities LLC Lowers Stock Holdings in IonQ, Inc. (NYSE:IONQ)

SG Americas Securities LLC reduced its position in shares of IonQ, Inc. (NYSE:IONQ) by 13.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,284,293 shares of the company’s stock after selling 370,238 shares during the period. SG Americas Securities LLC owned about 1.08% of IonQ worth $19,965,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC boosted its position in shares of IonQ by 4,824.2% during the second 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 purchased a new position in IonQ in the second quarter valued at $67,000. Mosley Wealth Management purchased a new position in IonQ in the second quarter valued at $81,000. Xponance Inc. purchased a new position in IonQ in the second quarter valued at $88,000. Finally, DNB Asset Management AS purchased a new position in IonQ in the second quarter valued at $117,000. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

IonQ Price Performance

Shares of NYSE:IONQ traded up $0.06 during trading on Friday, reaching $9.31. The company had a trading volume of 7,502,220 shares, compared to its average volume of 5,862,139. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of -11.22 and a beta of 2.05. The stock’s fifty day moving average price is $7.60 and its 200 day moving average price is $8.02. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $16.60.

IonQ (NYSE:IONQ) last announced its quarterly earnings data 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. IonQ had a negative return on equity of 34.02% and a negative net margin of 525.13%. The firm had revenue of $11.38 million for the quarter, compared to analyst estimates of $8.66 million. During the same quarter in the prior year, the company posted ($0.16) earnings per share. IonQ’s quarterly revenue was up 106.4% on a year-over-year basis. On average, equities analysts anticipate that IonQ, Inc. will post -0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on IONQ. Benchmark decreased their target price on IonQ from $16.00 to $12.00 and set a “buy” rating for the company in a report on Monday, August 12th. Craig Hallum decreased their target price on IonQ from $21.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 target price on shares of IonQ in a report on Wednesday. Finally, The Goldman Sachs Group cut their price target on IonQ from $11.50 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.00.

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.