IonQ, Inc. (NYSE:IONQ) CFO Sells $36,372.90 in Stock

IonQ, Inc. (NYSE:IONQ) CFO Thomas G. Kramer sold 4,610 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $7.89, for a total transaction of $36,372.90. Following the completion of the transaction, the chief financial officer now directly owns 949,614 shares in the company, valued at $7,492,454.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

IonQ Trading Down 0.1 %

Shares of NYSE IONQ opened at $7.70 on Friday. IonQ, Inc. has a 52 week low of $6.98 and a 52 week high of $21.60. The firm has a 50-day moving average price of $8.29 and a 200 day moving average price of $10.26.

IonQ (NYSE:IONQ) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.07. The company had revenue of $7.58 million during the quarter, compared to the consensus estimate of $7.08 million. IonQ had a negative net margin of 671.00% and a negative return on equity of 31.76%. The company’s revenue for the quarter was up 76.9% on a year-over-year basis. During the same period last year, the firm earned ($0.14) EPS. Analysts anticipate that IonQ, Inc. will post -0.89 EPS for the current fiscal year.

Institutional Trading of IonQ

A number of institutional investors have recently bought and sold shares of IONQ. Norges Bank acquired a new position in shares of IonQ during the 4th quarter worth $26,430,000. SG Americas Securities LLC raised its position in IonQ by 1,598.7% during the first quarter. SG Americas Securities LLC now owns 2,084,625 shares of the company’s stock worth $20,825,000 after acquiring an additional 1,961,909 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of IonQ by 5.1% in the first quarter. Vanguard Group Inc. now owns 18,824,996 shares of the company’s stock valued at $188,062,000 after purchasing an additional 918,265 shares in the last quarter. Invesco Ltd. grew its position in shares of IonQ by 282.9% in the third quarter. Invesco Ltd. now owns 453,221 shares of the company’s stock valued at $6,744,000 after purchasing an additional 334,856 shares during the last quarter. Finally, Gagnon Securities LLC purchased a new position in shares of IonQ during the 1st quarter worth approximately $2,410,000. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of IonQ from $13.00 to $11.50 and set a “neutral” rating on the stock in a report on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $18.00 price objective on shares of IonQ in a report on Thursday, May 16th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, IonQ has an average rating of “Moderate Buy” and an average target price of $16.50.

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.