IonQ, Inc. (NYSE:IONQ) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC lessened its position in shares of IonQ, Inc. (NYSE:IONQ) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 525,785 shares of the company’s stock after selling 6,188 shares during the period. Penserra Capital Management LLC owned approximately 0.25% of IonQ worth $4,595,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of IONQ. 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 valued at $188,062,000 after purchasing an additional 918,265 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of IonQ by 27.3% in the second quarter. SG Americas Securities LLC now owns 2,654,531 shares of the company’s stock valued at $18,661,000 after buying an additional 569,906 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of IonQ by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock valued at $14,107,000 after buying an additional 135,851 shares during the period. Bank of New York Mellon Corp boosted its holdings in IonQ by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 916,536 shares of the company’s stock worth $6,443,000 after acquiring an additional 131,439 shares during the period. Finally, Carnegie Investment Counsel acquired a new stake in IonQ in the third quarter valued at approximately $5,036,000. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

IonQ Price Performance

Shares of IONQ stock opened at $31.80 on Monday. The firm has a market cap of $6.88 billion, a P/E ratio of -39.26 and a beta of 1.89. The firm has a fifty day moving average of $15.21 and a two-hundred day moving average of $10.34. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $33.80.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.02). IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The firm had revenue of $12.40 million during the quarter, compared to the consensus estimate of $10.56 million. During the same period in the prior year, the firm earned ($0.22) earnings per share. The firm’s quarterly revenue was up 102.1% compared to the same quarter last year. On average, sell-side analysts expect that IonQ, Inc. will post -0.86 EPS for the current year.

Wall Street Analysts Forecast Growth

IONQ has been the subject of several analyst reports. The Goldman Sachs Group decreased their target price on shares of IonQ from $11.50 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Craig Hallum upped their price objective on shares of IonQ from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Benchmark boosted their price target on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC increased their price target on IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Insiders Place Their Bets

In related news, CRO Rima Alameddine sold 9,875 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $11.72, for a total transaction of $115,735.00. Following the sale, the executive now owns 638,908 shares in the company, valued at $7,488,001.76. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 66,000 shares of company stock valued at $972,331 over the last 90 days. 11.60% of the stock is owned by company insiders.

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.