12,532 Shares in IonQ, Inc. (NYSE:IONQ) Acquired by Xponance Inc.

Xponance Inc. acquired a new stake in IonQ, Inc. (NYSE:IONQ) in the second quarter, HoldingsChannel.com reports. The firm acquired 12,532 shares of the company’s stock, valued at approximately $88,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blueshift Asset Management LLC purchased a new stake in IonQ in the 4th quarter valued at $234,000. Morgens Waterfall Vintiadis & Co. Inc. purchased a new stake in shares of IonQ in the fourth quarter valued at about $1,858,000. Prospect Financial Services LLC acquired a new stake in shares of IonQ during the fourth quarter worth about $124,000. Virtu Financial LLC purchased a new position in shares of IonQ during the fourth quarter worth about $554,000. Finally, Vanguard Group Inc. increased its position in IonQ by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 17,906,731 shares of the company’s stock valued at $221,864,000 after acquiring an additional 193,924 shares during the period. Hedge funds and other institutional investors own 41.42% of the company’s stock.

IonQ Stock Performance

NYSE:IONQ opened at $9.21 on Thursday. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $16.60. The stock has a fifty day moving average price of $7.55 and a two-hundred day moving average price of $8.02. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -11.10 and a beta of 2.04.

IonQ (NYSE:IONQ) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating 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 revenue was up 106.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.16) EPS. On average, analysts predict that IonQ, Inc. will post -0.84 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on IONQ shares. Benchmark decreased their price objective on IonQ from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, August 12th. The Goldman Sachs Group decreased their price target on IonQ from $11.50 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Needham & Company LLC restated a “buy” rating and set a $13.00 price objective on shares of IonQ in a research report on Wednesday. Finally, Craig Hallum reduced their target price 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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, IonQ presently has an average rating of “Moderate Buy” and an average target price of $12.00.

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.