IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine Sells 9,875 Shares of Stock

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 9,875 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $11.72, for a total value of $115,735.00. Following the completion of the transaction, the executive now owns 638,908 shares of the company’s stock, valued at approximately $7,488,001.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, October 18th, Rima Alameddine sold 11,375 shares of IonQ stock. The stock was sold at an average price of $13.72, for a total value of $156,065.00.
• On Monday, October 14th, Rima Alameddine sold 9,159 shares of IonQ stock. The stock was sold at an average price of $10.72, for a total transaction 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 transaction of $7,675.52.

IonQ Trading Up 6.4 %

IONQ stock opened at $13.30 on Friday. The stock’s 50 day simple moving average is $8.29 and its 200 day simple moving average is $8.11. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $15.49. The stock has a market capitalization of $2.81 billion, a PE ratio of -16.02 and a beta of 2.05.

IonQ (NYSE:IONQ) last posted its quarterly 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 firm had revenue of $11.38 million during the quarter, compared to analysts’ expectations of $8.66 million. During the same quarter in the previous year, the business earned ($0.16) earnings per share. The company’s revenue was up 106.4% on a year-over-year basis. On average, research analysts predict that IonQ, Inc. will post -0.84 earnings per share for the current year.

Institutional Trading of IonQ

A number of institutional investors have recently made changes to their positions in IONQ. Vanguard Group Inc. raised its holdings in shares of IonQ by 5.1% during 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 during the last quarter. SG Americas Securities LLC raised its stake in IonQ by 27.3% during the 2nd quarter. SG Americas Securities LLC now owns 2,654,531 shares of the company’s stock valued at $18,661,000 after buying an additional 569,906 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of IonQ by 16.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 916,536 shares of the company’s stock valued at $6,443,000 after buying an additional 131,439 shares during the period. Carnegie Investment Counsel bought a new position in shares of IonQ during the 3rd quarter valued at $5,036,000. Finally, Hussman Strategic Advisors Inc. boosted its stake in shares of IonQ by 126.7% in the 1st quarter. Hussman Strategic Advisors Inc. now owns 357,000 shares of the company’s stock worth $3,566,000 after buying an additional 199,500 shares during 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 analyst reports. The Goldman Sachs Group decreased their target price on shares of IonQ from $11.50 to $8.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. Craig Hallum lowered their price objective on IonQ from $21.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $13.00 target price on shares of IonQ in a report on Wednesday, October 2nd. Finally, Benchmark reduced 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.