IonQ, Inc. (NYSE:IONQ) Short Interest Update

IonQ, Inc. (NYSE:IONQGet Rating) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totalling 7,640,000 shares, a decline of 26.8% from the March 15th total of 10,440,000 shares. Currently, 8.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,310,000 shares, the days-to-cover ratio is currently 2.3 days.

In other news, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the company’s stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $11.16, for a total value of $6,073,818.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

A number of hedge funds have recently modified their holdings of the stock. DNB Asset Management AS bought a new position in IonQ during the 4th quarter valued at approximately $809,000. IFP Advisors Inc bought a new position in IonQ during the 4th quarter valued at approximately $87,000. Lattice Capital Management LLC bought a new position in IonQ during the 4th quarter valued at approximately $296,000. Huntington National Bank bought a new position in IonQ during the 4th quarter valued at approximately $78,000. Finally, Cheyne Capital Management UK LLP bought a new position in IonQ during the 4th quarter valued at approximately $1,421,000. Institutional investors own 43.38% of the company’s stock.

Shares of IONQ traded down $0.71 during midday trading on Friday, reaching $10.66. The stock had a trading volume of 3,464,991 shares, compared to its average volume of 3,557,427. IonQ has a 12-month low of $7.07 and a 12-month high of $35.90. The business has a 50-day moving average price of $13.50.

IonQ (NYSE:IONQGet Rating) last issued its earnings results on Monday, March 28th. The company reported ($0.06) earnings per share for the quarter. The company had revenue of $1.65 million during the quarter.

IonQ Company Profile (Get Rating)

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.

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