Arizona State Retirement System Increases Stock Holdings in IonQ, Inc. (NYSE:IONQ)

Arizona State Retirement System increased its holdings in IonQ, Inc. (NYSE:IONQ – Get Rating) by 35.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,537 shares of the company’s stock after acquiring an additional 9,615 shares during the quarter. Arizona State Retirement System’s holdings in IonQ were worth $126,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IONQ. Quantbot Technologies LP purchased a new stake in IonQ in the second quarter worth $28,000. Commonwealth Equity Services LLC bought a new position in IonQ in the fourth quarter worth $34,000. Redwood Wealth Management Group LLC bought a new position in IonQ in the fourth quarter worth $38,000. Bailard Inc. bought a new position in IonQ in the fourth quarter worth $43,000. Finally, Captrust Financial Advisors bought a new position in IonQ in the second quarter worth $44,000. Hedge funds and other institutional investors own 46.18% of the company’s stock.

Analyst Ratings Changes

IONQ has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price objective on shares of IonQ in a report on Friday, March 31st. Benchmark restated a “buy” rating and set a $8.00 price target on shares of IonQ in a report on Friday, March 31st. Finally, Morgan Stanley began coverage on IonQ in a report on Wednesday, April 26th. They set an “equal weight” rating and a $7.00 price target for the company.

IonQ Price Performance

Shares of NYSE:IONQ opened at $9.35 on Friday. IonQ, Inc. has a 1-year low of $3.04 and a 1-year high of $11.65. The business has a fifty day moving average price of $6.51 and a 200-day moving average price of $5.23. The company has a market capitalization of $1.88 billion, a PE ratio of -25.97 and a beta of 1.90.

IonQ (NYSE:IONQ – Get Rating) last released its quarterly earnings data on Thursday, March 30th. The company reported ($0.09) EPS for the quarter. IonQ had a negative return on equity of 15.32% and a negative net margin of 531.99%. The business had revenue of $3.81 million during the quarter. On average, sell-side analysts anticipate that IonQ, Inc. will post -0.34 earnings per share for the current fiscal year.

About IonQ

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IonQ, Inc engages in the development of general-purpose quantum computing systems. It sells access to quantum computers with 20 qubits. 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.