Thomas G. Kramer Sells 9,780 Shares of IonQ, Inc. (NYSE:IONQ) Stock

IonQ, Inc. (NYSE:IONQ) CFO Thomas G. Kramer sold 9,780 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total value of $290,661.60. Following the completion of the transaction, the chief financial officer now owns 926,114 shares in the company, valued at $27,524,108.08. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

IonQ Price Performance

NYSE IONQ opened at $33.83 on Friday. The stock has a market capitalization of $7.32 billion, a PE ratio of -41.77 and a beta of 2.49. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $38.45. The business has a 50 day simple moving average of $22.61 and a two-hundred day simple moving average of $12.88.

IonQ (NYSE:IONQ) last announced its quarterly earnings results 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 return on equity of 36.82% and a negative net margin of 457.85%. The business had revenue of $12.40 million during the quarter, compared to the consensus estimate of $10.56 million. During the same quarter in the prior year, the firm posted ($0.22) EPS. The company’s revenue for the quarter was up 102.1% on a year-over-year basis. On average, analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on IONQ shares. Needham & Company LLC lifted their target price on IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Benchmark lifted their price objective on shares of IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Craig Hallum upped their target price on shares of IonQ from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Institutional Trading of IonQ

Hedge funds have recently made changes to their positions in the business. Arete Wealth Advisors LLC purchased a new position in IonQ in the third quarter worth about $91,000. Geode Capital Management LLC boosted its holdings in shares of IonQ by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,420,152 shares of the company’s stock worth $38,640,000 after purchasing an additional 199,360 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of IonQ in the 3rd quarter worth approximately $1,631,000. Main Management ETF Advisors LLC bought a new position in shares of IonQ during the 3rd quarter valued at approximately $1,865,000. Finally, Zacks Investment Management raised its holdings in IonQ by 10.0% during the 3rd quarter. Zacks Investment Management now owns 154,701 shares of the company’s stock valued at $1,352,000 after buying an additional 14,072 shares during the period. 41.42% of the stock is currently owned by hedge funds and other 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.