The Vanguard Group, Inc. recently announced the acquisition of new stake in IonQ Inc (NYSE:IONQ). The institutional investor has increased its shareholding in the Technology company by 2.13% to 17.4 million shares with purchase of 0.36 million shares. This fresh investment now brings its stake to 8.50% valued currently at $215.63 million. In addition, BlackRock Fund Advisors raised its holdings by 0.22 million to 10.29 million shares. And SSgA Funds Management, Inc. has lifted its position by 7.28% or 0.23 million shares – to 3.44 million shares.
Currently, there are 199.86M common shares owned by the public and among those 168.09M shares have been available to trade.
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The top 3 mutual fund holders in IonQ Inc are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market ETF owns 5.05 million shares of the company’s stock, all valued at over $62.6 million. The company bought an additional 4957.0 shares recently to bring their total holdings to about 2.47% of the shares outstanding. iShares Russell 2000 ETF sold 11466.0 shares to see its total holdings shrink to 4.33 million shares valued at over $53.62 million and representing 2.11% of the shares outstanding. Vanguard Small Cap Index Fund sold 34534.0 shares to bring its total holdings to over 4.17 million shares at a value of $51.67 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.04% of the shares outstanding.
However, the script later moved the day high at 11.86, up 8.02%. The company’s stock has a 5-day price change of 2.81% and -12.99% over the past three months. IONQ shares are trading -5.41% year to date (YTD), with the 12-month market performance up to 191.54% higher. It has a 12-month low price of $4.14 and touched a high of $21.60 over the same period. IONQ has an average intraday trading volume of 8.42 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.35%, -6.83%, and -4.84% respectively.
Institutional ownership of IonQ Inc (NYSE: IONQ) shares accounts for 31.97% of the company’s 199.86M shares outstanding. Mutual fund holders own 18.56%, while other institutional holders and individual stakeholders account for 33.34% and 13.44% respectively.
It has a market capitalization of $2.40B and a beta (3y monthly) value of 2.22. The earnings-per-share (ttm) stands at -$0.67. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.66% over the week and 5.45% over the month.
Analysts forecast that IonQ Inc (IONQ) will achieve an EPS of -$0.2 for the current quarter, -$0.21 for the next quarter and -$0.88 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.22 while analysts give the company a high EPS estimate of -$0.17. Comparatively, EPS for the current quarter was -$0.09 a year ago. Earnings per share for the fiscal year are expected to decrease by -209.00%, and -13.92% over the next financial year.
Looking at the support for the IONQ, a number of firms have released research notes about the stock. Craig Hallum stated their Buy rating for the stock in a research note on August 11, 2023, with the firm’s price target at $12-$21.
