Marshall Wace LLP Lowers Stake in IonQ, Inc. (NYSE:IONQ)

Marshall Wace LLP decreased its position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 64.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,236 shares of the company's stock after selling 216,873 shares during the quarter. Marshall Wace LLP owned 0.06% of IonQ worth $831,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IONQ. SG Americas Securities LLC grew its holdings in IonQ by 1,598.7% in the first quarter. SG Americas Securities LLC now owns 2,084,625 shares of the company's stock valued at $20,825,000 after purchasing an additional 1,961,909 shares during the period. Vanguard Group Inc. increased its holdings in IonQ by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 18,824,996 shares of the company's stock worth $188,062,000 after acquiring an additional 918,265 shares in the last quarter. Gagnon Securities LLC acquired a new position in IonQ during the first quarter worth $2,410,000. Hussman Strategic Advisors Inc. lifted its holdings in IonQ by 126.7% during the first quarter. Hussman Strategic Advisors Inc. now owns 357,000 shares of the company's stock valued at $3,566,000 after purchasing an additional 199,500 shares in the last quarter. Finally, Gagnon Advisors LLC purchased a new stake in shares of IonQ during the first quarter worth about $1,582,000. 41.42% of the stock is owned by hedge funds and other institutional investors.

IonQ Stock Down 0.1 %

IonQ stock traded down $0.01 during trading on Wednesday, reaching $9.54. The stock had a trading volume of 6,766,694 shares, compared to its average volume of 5,897,768. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $16.60. The business has a 50 day moving average price of $7.66 and a 200 day moving average price of $8.00. The stock has a market cap of $2.02 billion, a PE ratio of -11.61 and a beta of 2.05.

IonQ (NYSE:IONQ - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.04. The business had revenue of $11.38 million for the quarter, compared to analyst estimates of $8.66 million. IonQ had a negative return on equity of 34.02% and a negative net margin of 525.13%. The business's quarterly revenue was up 106.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.16) EPS. On average, equities analysts predict that IonQ, Inc. will post -0.84 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on IONQ shares. Craig Hallum decreased their price target on shares of IonQ from $21.00 to $15.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 price target on shares of IonQ in a research note on Wednesday, October 2nd. The Goldman Sachs Group dropped their price target on IonQ from $11.50 to $8.00 and set a "neutral" rating for the company in a research report on Friday, August 9th. Finally, Benchmark decreased their price objective on IonQ from $16.00 to $12.00 and set a "buy" rating on the stock in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.