IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine Sells 22,875 Shares

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 22,875 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $17.75, for a total value of $406,031.25. Following the completion of the transaction, the executive now directly owns 592,658 shares of the company’s stock, valued at approximately $10,519,679.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, October 23rd, Rima Alameddine sold 12,000 shares of IonQ stock. The stock was sold at an average price of $15.72, for a total value of $188,640.00.
• 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 shares were sold at an average price of $10.72, for a total value of $7,675.52.

IonQ Stock Up 0.7 %

Shares of NYSE IONQ traded up $0.12 on Wednesday, hitting $16.87. The company had a trading volume of 23,647,914 shares, compared to its average volume of 6,966,911. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $18.20. The business has a 50 day moving average of $9.70 and a two-hundred day moving average of $8.52. The firm has a market capitalization of $3.61 billion, a P/E ratio of -21.35 and a beta of 2.05.

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

Institutional Investors Weigh In On IonQ

Several institutional investors and hedge funds have recently modified their holdings of IONQ. Oppenheimer & Co. Inc. lifted its stake in shares of IonQ by 4.0% in the first quarter. Oppenheimer & Co. Inc. now owns 36,495 shares of the company’s stock worth $365,000 after acquiring an additional 1,400 shares in the last quarter. Arizona State Retirement System raised its stake in IonQ by 3.6% during the second quarter. Arizona State Retirement System now owns 49,550 shares of the company’s stock valued at $348,000 after buying an additional 1,731 shares in the last quarter. ProShare Advisors LLC raised its stake in IonQ by 10.5% during the first quarter. ProShare Advisors LLC now owns 29,427 shares of the company’s stock valued at $294,000 after buying an additional 2,805 shares in the last quarter. Quest Partners LLC raised its stake in IonQ by 4,824.2% during the second quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock valued at $46,000 after buying an additional 6,368 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in IonQ by 40.6% during the second quarter. Principal Financial Group Inc. now owns 26,801 shares of the company’s stock valued at $188,000 after buying an additional 7,744 shares in the last quarter. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Analysts Set New Price Targets

IONQ has been the subject of a number of recent analyst reports. Benchmark lowered their price objective on IonQ from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Craig Hallum lowered their price target on IonQ from $21.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and set a $13.00 price target on shares of IonQ in a research report on Wednesday, October 2nd. Finally, The Goldman Sachs Group lowered their price target on IonQ from $11.50 to $8.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

About IonQ

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.