IonQ, Inc. (NYSE:IONQ) CFO Sells $217,491.84 in Stock

IonQ, Inc. (NYSE:IONQ) CFO Thomas G. Kramer sold 11,712 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total transaction of $217,491.84. Following the sale, the chief financial officer now owns 944,510 shares of the company’s stock, valued at approximately $17,539,550.70. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

IonQ Stock Down 2.5 %

IonQ stock traded down $0.55 during midday trading on Thursday, reaching $21.27. The stock had a trading volume of 32,318,500 shares, compared to its average volume of 14,125,804. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of -26.26 and a beta of 2.50. The company has a fifty day moving average of $34.47 and a 200 day moving average of $25.61.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IONQ. The Goldman Sachs Group raised their price objective on shares of IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and issued a $54.00 price objective on shares of IonQ in a report on Thursday, February 27th. DA Davidson raised shares of IonQ to a “strong-buy” rating in a report on Thursday, February 20th. Benchmark lowered their price target on shares of IonQ from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Craig Hallum lifted their price objective on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, IonQ has an average rating of “Buy” and a consensus price target of $44.80.

Institutional Trading of IonQ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new stake in IonQ in the 4th quarter worth about $26,000. Smartleaf Asset Management LLC raised its position in IonQ by 421.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock worth $27,000 after purchasing an additional 501 shares during the period. Measured Risk Portfolios Inc. purchased a new stake in IonQ in the 4th quarter worth about $27,000. TD Waterhouse Canada Inc. bought a new position in IonQ in the 4th quarter worth about $33,000. Finally, Golden State Wealth Management LLC bought a new position in IonQ in the 4th quarter worth about $34,000. 41.42% of the stock is 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.