IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine Sells 12,000 Shares

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.72, for a total value of $188,640.00. Following the completion of the sale, the executive now directly owns 615,533 shares in the company, valued at approximately $9,676,178.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Rima Alameddine also recently made the following trade(s):

• On Friday, October 18th, Rima Alameddine sold 11,375 shares of IonQ stock. The shares were sold at an average price of $13.72, for a total value of $156,065.00.
• On Wednesday, October 16th, Rima Alameddine sold 9,875 shares of IonQ stock. The shares were sold at an average price of $11.72, for a total value of $115,735.00.
• On Monday, October 14th, Rima Alameddine sold 9,159 shares of IonQ stock. The shares were sold at an average price of $10.72, for a total value of $98,184.48.
• On Friday, October 11th, Rima Alameddine sold 716 shares of IonQ stock. The stock was sold at an average price of $10.72, for a total transaction of $7,675.52.

IonQ Stock Up 8.0 %

NYSE:IONQ opened at $16.96 on Friday. The firm has a market capitalization of $3.59 billion, a PE ratio of -20.43 and a beta of 2.05. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $17.05. The firm has a 50-day moving average price of $9.11 and a 200 day moving average price of $8.33.

IonQ (NYSE:IONQ) last issued its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The business had revenue of $11.38 million during the quarter, compared to analysts’ expectations of $8.66 million. IonQ had a negative return on equity of 34.02% and a negative net margin of 525.13%. IonQ’s quarterly revenue was up 106.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.16) EPS. On average, research analysts expect that IonQ, Inc. will post -0.84 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of IonQ from $11.50 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Needham & Company LLC reissued a “buy” rating and set a $13.00 target price on shares of IonQ in a research report on Wednesday, October 2nd. Benchmark cut their price target on IonQ from $16.00 to $12.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Craig Hallum decreased their price objective on IonQ from $21.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, IonQ has an average rating of “Moderate Buy” and an average target price of $12.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quest Partners LLC grew its holdings in shares of IonQ by 4,824.2% in the 2nd quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock worth $46,000 after purchasing an additional 6,368 shares during the last quarter. nVerses Capital LLC bought a new stake in IonQ during the third quarter worth about $72,000. Redwood Wealth Management Group LLC bought a new stake in IonQ during the second quarter worth about $67,000. Impact Partnership Wealth LLC acquired a new stake in shares of IonQ during the third quarter worth approximately $89,000. Finally, Mosley Wealth Management bought a new position in shares of IonQ in the second quarter valued at approximately $81,000. 41.42% of the stock is owned by institutional investors.

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.