IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine Sells 21,337 Shares

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 21,337 shares of IonQ stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $634,349.01. Following the transaction, the executive now directly owns 571,321 shares in the company, valued at approximately $16,985,373.33. The trade was a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, October 28th, Rima Alameddine sold 22,875 shares of IonQ stock. The shares were sold at an average price of $17.75, for a total transaction of $406,031.25.
• On Wednesday, October 23rd, Rima Alameddine sold 12,000 shares of IonQ stock. The shares were 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 stock was sold at an average price of $13.72, for a total transaction of $156,065.00.
• On Wednesday, October 16th, Rima Alameddine sold 9,875 shares of IonQ stock. The stock was sold at an average price of $11.72, for a total transaction of $115,735.00.
• 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 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 12.9 %

NYSE IONQ traded up $3.87 on Friday, reaching $33.86. The stock had a trading volume of 24,629,528 shares, compared to its average volume of 9,928,242. The stock has a fifty day moving average price of $22.12 and a two-hundred day moving average price of $12.67. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $38.45. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of -38.74 and a beta of 2.49.

IonQ (NYSE:IONQ) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.02). IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The firm had revenue of $12.40 million during the quarter, compared to analysts’ expectations of $10.56 million. During the same quarter in the prior year, the firm posted ($0.22) EPS. IonQ’s quarterly revenue was up 102.1% compared to the same quarter last year. Sell-side analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quest Partners LLC raised its position in IonQ by 4,824.2% in the 2nd quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock valued at $46,000 after purchasing an additional 6,368 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new stake in shares of IonQ during the second quarter worth approximately $67,000. nVerses Capital LLC acquired a new stake in IonQ in the third quarter valued at approximately $72,000. Mosley Wealth Management purchased a new position in IonQ in the second quarter worth approximately $81,000. Finally, Xponance Inc. acquired a new position in IonQ during the 2nd quarter worth approximately $88,000. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on IONQ shares. Benchmark lifted their price objective on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC upped their target price on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Craig Hallum raised their price target on shares of IonQ from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

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.