Short Interest in IonQ, Inc. (NYSE:IONQ) Decreases By 6.6%

IonQ, Inc. (NYSE:IONQ - Get Free Report) saw a significant decrease in short interest in July. As of July 15th, there was short interest totalling 32,760,000 shares, a decrease of 6.6% from the June 30th total of 35,090,000 shares. Approximately 18.2% of the shares of the stock are short sold. Based on an average daily volume of 4,810,000 shares, the short-interest ratio is currently 6.8 days.

IonQ Trading Up 4.5 %

• MarketBeat Week in Review – 5/22 - 5/26

IonQ stock traded up $0.35 during trading on Wednesday, reaching $8.15. The company had a trading volume of 4,202,622 shares, compared to its average volume of 5,784,731. IonQ has a 52 week low of $6.33 and a 52 week high of $21.60. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -9.40 and a beta of 2.06. The firm's 50-day simple moving average is $7.79 and its 200 day simple moving average is $9.02.

IonQ (NYSE:IONQ - Get Free Report) last issued its earnings results on Wednesday, May 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.07. The company had revenue of $7.58 million for the quarter, compared to the consensus estimate of $7.08 million. IonQ had a negative return on equity of 31.76% and a negative net margin of 671.00%. The firm's quarterly revenue was up 76.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.14) EPS. On average, analysts predict that IonQ will post -0.89 earnings per share for the current year.

Wall Street Analyst Weigh In

• Can IonQ Be the Leader in Quantum Computing as a Service?

Separately, Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 price target on shares of IonQ in a research note on Thursday, May 16th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $16.50.

Check Out Our Latest Stock Report on IonQ

Insider Activity

In other IonQ news, CFO Thomas G. Kramer sold 4,610 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $7.89, for a total value of $36,372.90. Following the completion of the sale, the chief financial officer now owns 949,614 shares in the company, valued at $7,492,454.46. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other IonQ news, CEO Peter Hume Chapman sold 5,936 shares of IonQ stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $7.89, for a total value of $46,835.04. Following the sale, the chief executive officer now owns 445,297 shares of the company's stock, valued at $3,513,393.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas G. Kramer sold 4,610 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $7.89, for a total transaction of $36,372.90. Following the completion of the sale, the chief financial officer now owns 949,614 shares in the company, valued at $7,492,454.46. The disclosure for this sale can be found here. Insiders have sold 20,353 shares of company stock valued at $160,585 over the last three months. 11.60% of the stock is owned by insiders.

Hedge Funds Weigh In On IonQ

Several hedge funds have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its position in shares of IonQ by 4.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 36,495 shares of the company's stock worth $365,000 after purchasing an additional 1,400 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of IonQ by 2.2% during the fourth quarter. New York State Common Retirement Fund now owns 66,328 shares of the company's stock worth $822,000 after purchasing an additional 1,416 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of IonQ by 6.9% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 22,736 shares of the company's stock worth $282,000 after buying an additional 1,459 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of IonQ by 26.1% in the 4th quarter. National Bank of Canada FI now owns 8,000 shares of the company's stock valued at $97,000 after purchasing an additional 1,655 shares during the period. Finally, Gratus Capital LLC increased its stake in shares of IonQ by 12.5% in the 4th quarter. Gratus Capital LLC now owns 22,500 shares of the company's stock valued at $279,000 after purchasing an additional 2,500 shares in the last quarter. 41.42% of the stock is currently owned by institutional investors.

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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