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

IonQ, Inc. (NYSE:IONQ) CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total transaction of $290,661.60. Following the completion of the sale, 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 legal filing with the SEC, which is available at this hyperlink.

IonQ Trading Up 12.9 %

IONQ traded up $3.87 during trading on Friday, reaching $33.86. 24,629,528 shares of the company’s stock were exchanged, compared to its average volume of 9,928,242. The stock has a market capitalization of $7.33 billion, a PE ratio of -38.74 and a beta of 2.49. IonQ, Inc. has a one year low of $6.22 and a one year high of $38.45. The firm has a fifty day moving average price of $22.12 and a two-hundred day moving average price of $12.67.

IonQ (NYSE:IONQ) last posted 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 net margin of 457.85% and a negative return on equity of 36.82%. The company had revenue of $12.40 million during the quarter, compared to the consensus estimate of $10.56 million. During the same period last year, the firm posted ($0.22) earnings per share. The company’s revenue for the quarter was up 102.1% on a year-over-year basis. Sell-side analysts expect that IonQ, Inc. will post -0.86 earnings per share for the current year.

Institutional Trading of IonQ

Institutional investors have recently added to or reduced their stakes in the stock. Carnegie Investment Counsel purchased a new position in shares of IonQ during the third quarter worth about $5,036,000. Yong Rong HK Asset Management Ltd bought a new stake in IonQ in the third quarter worth $3,749,000. Main Management ETF Advisors LLC purchased a new stake in IonQ during the 3rd quarter valued at about $1,865,000. Geode Capital Management LLC grew its holdings in shares of IonQ by 4.7% in the third 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 last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in IonQ in the 3rd quarter worth $1,631,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Analyst Upgrades and Downgrades

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

About IonQ

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.