IonQ, Inc. (NYSE:IONQ) Stock Holdings Increased by Rhumbline Advisers

Rhumbline Advisers grew its position in shares of IonQ, Inc. (NYSE:IONQ) by 13.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 295,918 shares of the company’s stock after buying an additional 35,158 shares during the period. Rhumbline Advisers owned about 0.14% of IonQ worth $2,080,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Morgens Waterfall Vintiadis & Co. Inc. bought a new stake in shares of IonQ during the 4th quarter valued at about $1,858,000. Norges Bank bought a new position in shares of IonQ during the fourth quarter valued at approximately $26,430,000. Victory Capital Management Inc. raised its position in shares of IonQ by 29.2% during the 4th quarter. Victory Capital Management Inc. now owns 48,083 shares of the company’s stock worth $596,000 after purchasing an additional 10,855 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of IonQ by 4.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 36,495 shares of the company’s stock worth $365,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in IonQ by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,321,275 shares of the company’s stock valued at $16,371,000 after purchasing an additional 29,577 shares during the period. Institutional investors and hedge funds own 41.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Benchmark dropped their target price on 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 lowered their price target 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. Finally, Craig Hallum cut their price objective on shares of IonQ from $21.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, IonQ has a consensus rating of “Moderate Buy” and an average target price of $13.00.

IonQ Stock Down 1.5 %

IONQ stock opened at $7.72 on Friday. The company has a 50-day simple moving average of $7.52 and a 200 day simple moving average of $8.12. The company has a market capitalization of $1.63 billion, a P/E ratio of -9.30 and a beta of 2.04. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $16.60.

IonQ (NYSE:IONQ) last issued 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. IonQ had a negative net margin of 525.13% and a negative return on equity of 34.02%. The company had revenue of $11.38 million during the quarter, compared to analyst estimates of $8.66 million. During the same period in the prior year, the business posted ($0.16) EPS. The business’s revenue for the quarter was up 106.4% compared to the same quarter last year. Equities analysts anticipate that IonQ, Inc. will post -0.84 EPS 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.