CFO Thomas G. Kramer of IonQ Sells Shares

IonQ, Inc. (NYSE:IONQ) recently witnessed a significant transaction involving its Chief Financial Officer, Thomas G. Kramer. On December 11th, Kramer sold 9,780 shares of the company's stock. The shares were traded at an average price of $29.72 each, which totaled $290,661.60 for this transaction. After this sale, Kramer continues to hold a substantial stake in the company, now owning 926,114 shares valued at approximately $27,524,108.08. This move reflects a 1.04% decrease in his overall ownership of IonQ shares. Details of this transaction were made public in a filing with the Securities and Exchange Commission (SEC).

Stock Performance and Market Activity

On Friday, the IonQ stock experienced an increase of 12.9%, climbing by $3.87 to reach a price of $33.86. This trading day saw the exchange of 24,629,528 shares, compared to its average daily volume of 9,928,242 shares. IonQ currently holds a market capitalization of $7.33 billion, with a PE ratio of -38.74 and a beta of 2.49. Over the past year, the stock has ranged from a low of $6.22 to a high of $38.45, with its fifty-day moving average at $22.12 and its two-hundred day moving average at $12.67.

Recent Earnings Report

IonQ's most recent quarterly earnings report, released on November 6th, revealed a loss of ($0.24) earnings per share, falling short of the consensus estimate of ($0.22) by ($0.02). The company also reported a negative net margin of 457.85% and a negative return on equity of 36.82%. Nevertheless, IonQ managed to generate revenue of $12.40 million for the quarter, exceeding the consensus estimate of $10.56 million. Compared to the same quarter in the previous year, the revenue grew by an impressive 102.1%. Analysts forecast that IonQ will report an earnings per share of -0.86 for the current year.

Institutional Investor Activity

Several institutional investors have adjusted their positions in IonQ's stock recently. For instance, Carnegie Investment Counsel took a new position valued at approximately $5,036,000 during the third quarter, while Yong Rong HK Asset Management Ltd acquired a stake worth about $3,749,000. Meanwhile, Main Management ETF Advisors LLC invested approximately $1,865,000 in new shares during the same quarter. Geode Capital Management LLC increased its holdings by 4.7%, owning now 4,420,152 shares worth $38,640,000 after acquiring an additional 199,360 shares.

Analyst Ratings and Market Outlook

An array of research firms have recently updated their opinions on IonQ shares. Benchmark raised their price target from $12.00 to $22.00, designating a "buy" rating on November 7th. On the same day, Needham & Company LLC increased their price objective from $13.00 to $18.00, also giving it a "buy" rating. Finally, Craig Hallum similarly elevated their target price from $15.00 to $22.00, maintaining a "buy" rating on the stock. Despite this optimism, market analysts believe that other stocks may offer better buying opportunities at this time.

Insights into IonQ, Inc.

IonQ, Inc. is known for developing general-purpose quantum computing systems in the United States. The company provides access to its quantum computers with varying qubit capacities, primarily through popular cloud platforms. These include Amazon Web Services (AWS), Microsoft Azure Quantum, and Google Cloud Marketplace.

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