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 the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.72, for a total value of $290,661.60. Following the transaction, the chief financial officer now directly owns 926,114 shares in the company, valued at approximately $27,524,108.08. This represents a 1.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

IonQ Trading Up 12.8 %

Shares of IONQ stock opened at $33.83 on Friday. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $38.45. The stock has a fifty day simple moving average of $22.61 and a two-hundred day simple moving average of $12.88. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of -41.77 and a beta of 2.49.

IonQ (NYSE:IONQ) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $10.56 million. During the same period last year, the company earned ($0.22) earnings per share. The firm’s revenue was up 102.1% compared to the same quarter last year. Research analysts predict that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Institutional Investors Weigh In On IonQ

Several hedge funds have recently modified their holdings of IONQ. Arete Wealth Advisors LLC bought a new position in IonQ in the third quarter worth approximately $91,000. Geode Capital Management LLC increased 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 valued at $38,640,000 after acquiring an additional 199,360 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of IonQ in the 3rd quarter worth $1,631,000. Main Management ETF Advisors LLC purchased a new stake in shares of IonQ during the 3rd quarter worth $1,865,000. Finally, Zacks Investment Management boosted its position in IonQ by 10.0% during the third quarter. Zacks Investment Management now owns 154,701 shares of the company’s stock valued at $1,352,000 after purchasing an additional 14,072 shares in the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.