IonQ, Inc. (NYSE:IONQ) CFO Sells $217,491.84 in Stock

IonQ, Inc. (NYSE:IONQ) CFO Thomas G. Kramer sold 11,712 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total value of $217,491.84. Following the completion of the sale, the chief financial officer now owns 944,510 shares in the company, valued at approximately $17,539,550.70. The trade was a 1.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

IonQ Trading Up 17.7 %

Shares of IonQ stock opened at $25.16 on Friday. The firm has a market cap of $5.61 billion, a P/E ratio of -31.06 and a beta of 2.50. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The stock’s fifty day moving average price is $34.02 and its 200-day moving average price is $25.73.

Hedge Funds Weigh In On IonQ

Institutional investors have recently made changes to their positions in the company. LMR Partners LLP bought a new stake in IonQ during the third quarter valued at about $874,000. Prospera Financial Services Inc boosted its position in IonQ by 196.1% during the third quarter. Prospera Financial Services Inc now owns 38,508 shares of the company’s stock valued at $337,000 after purchasing an additional 25,502 shares in the last quarter. Moors & Cabot Inc. bought a new stake in IonQ during the third quarter valued at about $92,000. Intech Investment Management LLC bought a new stake in IonQ during the third quarter valued at about $381,000. Finally, Charles Schwab Investment Management Inc. boosted its position in IonQ by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock valued at $14,107,000 after purchasing an additional 135,851 shares in the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on IONQ. The Goldman Sachs Group increased their target price on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Benchmark reduced their target price on IonQ from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Craig Hallum increased their target price on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. DA Davidson upgraded IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Finally, Needham & Company LLC restated a “buy” rating and set a $54.00 price target on shares of IonQ in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, IonQ presently has a consensus rating of “Buy” and a consensus price target of $44.80.

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.