IonQ, Inc. (NYSE:IONQ) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP reduced its position in IonQ, Inc. (NYSE:IONQ - Free Report) by 58.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 492,975 shares of the company's stock after selling 679,573 shares during the period. Dimensional Fund Advisors LP owned about 0.23% of IonQ worth $3,466,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC raised its holdings in shares of IonQ by 4,824.2% during the second quarter. Quest Partners LLC now owns 6,500 shares of the company's stock valued at $46,000 after purchasing an additional 6,368 shares during the last quarter. Redwood Wealth Management Group LLC bought a new stake in IonQ in the 2nd quarter worth approximately $67,000. Mosley Wealth Management bought a new stake in IonQ in the 2nd quarter worth approximately $81,000. DNB Asset Management AS purchased a new stake in IonQ during the 2nd quarter valued at $117,000. Finally, QCM Cayman Ltd. bought a new position in shares of IonQ during the 1st quarter valued at $120,000. 41.42% of the stock is owned by institutional investors.

IonQ Trading Up 8.7 %

NYSE:IONQ traded up $0.85 during midday trading on Friday, hitting $10.67. 11,685,842 shares of the company traded hands, compared to its average volume of 5,945,570. The firm has a market capitalization of $2.28 billion, a P/E ratio of -13.06 and a beta of 2.05. The firm's fifty day moving average is $7.73 and its 200-day moving average is $8.03. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $16.23.

IonQ (NYSE:IONQ - Get Free Report) 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 firm had revenue of $11.38 million during 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%. IonQ's quarterly revenue was up 106.4% compared to the same quarter last year. During the same period last year, the company earned ($0.16) EPS. On average, research analysts expect that IonQ, Inc. will post -0.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.