IonQ, Inc. (NYSE:IONQ) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its stake in shares of IonQ, Inc. (NYSE:IONQ) by 13.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,287 shares of the company’s stock after selling 5,383 shares during the period. Commonwealth Equity Services LLC’s holdings in IonQ were worth $248,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. DNB Asset Management AS acquired a new stake in shares of IonQ in the second quarter valued at approximately $117,000. QCM Cayman Ltd. purchased a new position in IonQ during the first quarter worth $120,000. Prospect Financial Services LLC acquired a new position in shares of IonQ in the fourth quarter worth $124,000. Avantax Advisory Services Inc. purchased a new stake in shares of IonQ in the first quarter valued at $153,000. Finally, Precision Wealth Strategies LLC boosted its stake in shares of IonQ by 38.6% during the fourth quarter. Precision Wealth Strategies LLC now owns 14,048 shares of the company’s stock valued at $174,000 after acquiring an additional 3,909 shares during the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. The Goldman Sachs Group reduced their target price on shares of IonQ from $11.50 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Craig Hallum lowered 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. Finally, Benchmark reduced their price target on IonQ from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.00.

IonQ Price Performance

Shares of IonQ stock opened at $8.12 on Wednesday. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $16.60. The business has a 50-day moving average of $7.50 and a 200-day moving average of $8.07. The company has a market capitalization of $1.72 billion, a PE ratio of -9.78 and a beta of 2.04.

IonQ (NYSE:IONQ) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The business had revenue of $11.38 million during the quarter, compared to analyst estimates 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 in the previous year, the firm earned ($0.16) earnings per share. On average, equities analysts expect that IonQ, Inc. will post -0.84 earnings per share for the current fiscal year.

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.