Cantor Fitzgerald L. P. Lowers Stock Position in IonQ, Inc. (NYSE:IONQ)

Cantor Fitzgerald L. P. lowered its position in IonQ, Inc. (NYSE:IONQ) by 45.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,100 shares of the company’s stock after selling 10,900 shares during the quarter. Cantor Fitzgerald L. P.’s holdings in IonQ were worth $162,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Morgens Waterfall Vintiadis & Co. Inc. acquired a new position in shares of IonQ during the 4th quarter valued at $1,858,000. Blueshift Asset Management LLC purchased a new position in IonQ in the fourth quarter valued at about $234,000. Chesapeake Capital Corp IL purchased a new position in IonQ in the fourth quarter valued at about $547,000. Aigen Investment Management LP lifted its stake in shares of IonQ by 15.2% during the fourth quarter. Aigen Investment Management LP now owns 20,371 shares of the company’s stock worth $252,000 after purchasing an additional 2,689 shares in the last quarter. Finally, Keystone Financial Group purchased a new stake in shares of IonQ in the fourth quarter worth about $136,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IONQ. Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of IonQ in a research report on Thursday, May 16th. The Goldman Sachs Group reduced their target price on shares of IonQ from $13.00 to $11.50 and set a “neutral” rating on the stock in a research report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

IonQ Stock Up 1.1 %

Shares of NYSE IONQ opened at $7.96 on Thursday. The business has a 50 day moving average price of $8.35 and a two-hundred day moving average price of $10.32. IonQ, Inc. has a fifty-two week low of $6.98 and a fifty-two week high of $21.60. The firm has a market cap of $1.68 billion, a PE ratio of -9.58 and a beta of 2.11.

IonQ (NYSE:IONQ) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. The business had revenue of $7.58 million during the quarter, compared to the consensus estimate of $7.08 million. IonQ had a negative net margin of 671.00% and a negative return on equity of 31.76%. The business’s quarterly revenue was up 76.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.14) earnings per share. On average, analysts anticipate that IonQ, Inc. will post -0.89 earnings per share for the current year.

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.