IonQ, Inc. (NYSE:IONQ) CFO Sells $2,070,622.86 in Stock

IonQ, Inc. (NYSE:IONQ - Get Free Report) CFO Thomas G. Kramer sold 43,382 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $47.73, for a total value of $2,070,622.86. Following the sale, the chief financial officer directly owned 603,134 shares of the company's stock, valued at approximately $28,787,585.82. This represents a 6.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

IonQ Stock Performance

Shares of NYSE:IONQ traded down $4.11 during midday trading on Friday, hitting $41.82. 23,222,844 shares of the stock were exchanged, compared to its average volume of 19,988,753. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The business's fifty day simple moving average is $39.35 and its two-hundred day simple moving average is $33.97. The company has a market capitalization of $10.94 billion, a PE ratio of -28.07 and a beta of 2.55.

IonQ (NYSE:IONQ - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.14. IonQ had a negative return on equity of 63.35% and a negative net margin of 753.20%. The business had revenue of $7.57 million during the quarter, compared to analyst estimates of $7.51 million. During the same period last year, the company earned ($0.19) earnings per share. IonQ's quarterly revenue was down .2% compared to the same quarter last year. As a group, equities analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current year.

Hedge Funds Weigh In On IonQ

Several institutional investors have recently bought and sold shares of IONQ. US Bancorp DE raised its holdings in IonQ by 219.5% during the fourth quarter. US Bancorp DE now owns 5,112 shares of the company's stock valued at $214,000 after buying an additional 3,512 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in IonQ by 421.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock valued at $27,000 after buying an additional 501 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in IonQ by 1,096.0% during the fourth quarter. Jones Financial Companies Lllp now owns 5,322 shares of the company's stock valued at $222,000 after buying an additional 4,877 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in IonQ by 368.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,373 shares of the company's stock valued at $392,000 after buying an additional 7,373 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in IonQ by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,645,672 shares of the company's stock valued at $68,740,000 after buying an additional 31,638 shares in the last quarter. 41.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 target price on shares of IonQ in a research report on Wednesday, June 11th. Benchmark raised their target price on IonQ from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Cantor Fitzgerald assumed coverage on IonQ in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $45.00 target price for the company. DA Davidson decreased their target price on IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Morgan Stanley raised their target price on IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.43.

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.