IonQ, Inc. (NYSE:IONQ) CFO Thomas G. Kramer Sells 9,994 Shares

IonQ, Inc. (NYSE:IONQ - Get Free Report) CFO Thomas G. Kramer sold 9,994 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $41.60, for a total transaction of $415,750.40. Following the completion of the transaction, the chief financial officer now directly owns 934,516 shares of the company's stock, valued at approximately $38,875,865.60. The trade was a 1.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

IonQ Price Performance

Shares of IonQ stock traded down $0.92 during trading on Friday, hitting $37.79. The company's stock had a trading volume of 19,334,687 shares, compared to its average volume of 18,650,839. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of -46.65 and a beta of 2.59. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74. The stock has a 50-day moving average price of $33.19 and a two-hundred day moving average price of $33.37.

IonQ (NYSE:IONQ - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.14. The firm had revenue of $7.57 million for the quarter, compared to the consensus estimate of $7.51 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The business's quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.19) EPS. On average, equities analysts predict that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on IONQ shares. Morgan Stanley upped their price target on shares of IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Benchmark boosted their price objective on IonQ from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday. DA Davidson dropped 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, Needham & Company LLC reissued a "buy" rating and set a $50.00 price target on shares of IonQ in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $40.00.

Hedge Funds Weigh In On IonQ

A number of hedge funds and other institutional investors have recently made changes to their positions in IONQ. Pathway Financial Advisers LLC acquired a new stake in IonQ during the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC boosted its stake in shares of IonQ by 421.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock valued at $27,000 after purchasing an additional 501 shares during the last quarter. Measured Risk Portfolios Inc. bought a new stake in shares of IonQ in the 4th quarter valued at $27,000. TD Waterhouse Canada Inc. acquired a new stake in shares of IonQ during the fourth quarter worth $33,000. Finally, Sandy Spring Bank raised its stake in IonQ by 350.0% during the fourth quarter. Sandy Spring Bank now owns 900 shares of the company's stock worth $38,000 after buying an additional 700 shares during the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

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.

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