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

IonQ, Inc. (NYSE:IONQ) CFO Thomas G. Kramer sold 9,780 shares of IonQ stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total value of $290,661.60. Following the completion of the sale, the chief financial officer now directly owns 926,114 shares of the company’s stock, valued at approximately $27,524,108.08. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

IonQ Trading Up 12.9 %

IONQ traded up $3.87 on Friday, reaching $33.86. The stock had a trading volume of 24,629,528 shares, compared to its average volume of 9,928,242. The company has a market cap of $7.33 billion, a P/E ratio of -38.74 and a beta of 2.49. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $38.45. The business’s 50-day moving average price is $22.12 and its two-hundred day moving average price is $12.67.

IonQ (NYSE:IONQ) last issued its quarterly earnings data 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). The business had revenue of $12.40 million during the quarter, compared to analysts’ expectations of $10.56 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The company’s revenue was up 102.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.22) earnings per share. As a group, analysts predict that IonQ, Inc. will post -0.86 earnings per share for the current year.

Institutional Trading of IonQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of IonQ by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock worth $14,107,000 after purchasing an additional 135,851 shares in the last quarter. Carnegie Investment Counsel purchased a new position in IonQ in the 3rd quarter worth approximately $5,036,000. Yong Rong HK Asset Management Ltd acquired a new position in shares of IonQ in the third quarter worth about $3,749,000. Rockefeller Capital Management L.P. raised its stake in shares of IonQ by 34.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 437,596 shares of the company’s stock valued at $3,825,000 after purchasing an additional 111,435 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in IonQ during the third quarter valued at $1,631,000. 41.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.