Dimensional Fund Advisors LP Sells 679,573 Shares of IonQ, Inc. (NYSE:IONQ)

Dimensional Fund Advisors LP trimmed its position in shares of IonQ, Inc. (NYSE:IONQ) by 58.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 492,975 shares of the company’s stock after selling 679,573 shares during the quarter. Dimensional Fund Advisors LP owned 0.23% of IonQ worth $3,466,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in IONQ. Quest Partners LLC grew its stake in shares of 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 acquiring an additional 6,368 shares in the last quarter. Redwood Wealth Management Group LLC bought a new stake in shares of IonQ during the 2nd quarter valued at about $67,000. Mosley Wealth Management bought a new stake in IonQ during the second quarter worth about $81,000. DNB Asset Management AS purchased a new stake in IonQ in the second quarter worth approximately $117,000. Finally, QCM Cayman Ltd. purchased a new stake in IonQ during the first quarter valued at about $120,000. 41.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on IONQ shares. Benchmark reduced their price target on shares of IonQ from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. The Goldman Sachs Group cut their price target on IonQ from $11.50 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 target price on shares of IonQ in a report on Wednesday, October 2nd. Finally, Craig Hallum decreased their target price on IonQ from $21.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.00.

IonQ Stock Up 2.8 %

IONQ opened at $9.81 on Friday. The firm’s 50-day moving average price is $7.68 and its 200-day moving average price is $8.01. The company has a market cap of $2.07 billion, a P/E ratio of -11.22 and a beta of 2.05. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $16.60.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.04. IonQ had a negative net margin of 525.13% and a negative return on equity of 34.02%. The business had revenue of $11.38 million during the quarter, compared to analysts’ expectations of $8.66 million. During the same period in the previous year, the business posted ($0.16) EPS. The business’s quarterly revenue was up 106.4% compared to the same quarter last year. On average, research analysts anticipate that IonQ, Inc. will post -0.84 EPS for the current fiscal 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.