IonQ, Inc. (NYSE:IONQ – Get Free Report) was the target of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 34,880,000 shares, a decline of 8.3% from the August 31st total of 38,030,000 shares. Based on an average trading volume of 4,620,000 shares, the days-to-cover ratio is presently 7.5 days. Currently, 19.0% of the shares of the stock are short sold.
IonQ Stock Down 4.3 %
IONQ stock traded down $0.38 during trading on Tuesday, hitting $8.36. The company had a trading volume of 3,294,663 shares, compared to its average volume of 5,752,560. The firm has a market capitalization of $1.77 billion, a P/E ratio of -10.53 and a beta of 2.04. IonQ has a 52-week low of $6.22 and a 52-week high of $16.60. The company has a 50 day simple moving average of $7.52 and a 200-day simple moving average of $8.02.
IonQ (NYSE:IONQ – Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.04. The company had revenue of $11.38 million for the quarter, compared to analysts’ expectations of $8.66 million. IonQ had a negative return on equity of 34.02% and a negative net margin of 525.13%. IonQ’s revenue was up 106.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. Sell-side analysts forecast that IonQ will post -0.84 earnings per share for the current year.
Hedge Funds Weigh In On IonQ
Analyst Ratings Changes
A number of analysts have issued reports on the company. Benchmark reduced their price objective on IonQ from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Craig Hallum cut their target price on IonQ from $21.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group decreased their price target on IonQ from $11.50 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, IonQ currently has a consensus rating of “Moderate Buy” and an average price target of $13.00.
Get Our Latest Stock Report on IonQ
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.
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