Insider Selling: IonQ (NYSE:IONQ) CRO Sells $4,689,000.00 in Stock

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $46.89, for a total value of $4,689,000.00. Following the completion of the sale, the executive owned 432,616 shares of the company’s stock, valued at $20,285,364.24. This trade represents a 18.78% decrease in their ownership of the stock. 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 Thursday, September 11th, Rima Alameddine sold 19,976 shares of IonQ stock. The shares were sold at an average price of $44.40, for a total value of $886,934.40.

IonQ Price Performance

Shares of IONQ traded up $0.72 during midday trading on Friday, reaching $41.72. The stock had a trading volume of 29,215,467 shares, compared to its average volume of 25,828,916. The company has a market capitalization of $14.49 billion, a P/E ratio of -7.80 and a beta of 2.59. The firm’s 50 day moving average price is $62.37 and its 200-day moving average price is $48.26. IonQ, Inc. has a 52 week low of $17.88 and a 52 week high of $84.64.

IonQ (NYSE:IONQ) last announced its earnings results on Wednesday, November 5th. The company reported ($3.58) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($3.14). The firm had revenue of $39.87 million for the quarter, compared to the consensus estimate of $26.99 million. IonQ had a negative net margin of 1,836.32% and a negative return on equity of 127.06%. The company’s quarterly revenue was up 221.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.24) EPS. IonQ has set its FY 2025 guidance at EPS. On average, equities analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IONQ has been the topic of several recent research reports. DA Davidson lifted their price objective on shares of IonQ from $35.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Needham & Company LLC restated a “buy” rating and set a $80.00 target price on shares of IonQ in a report on Thursday, November 6th. JPMorgan Chase & Co. initiated coverage on shares of IonQ in a research report on Thursday. They issued a “neutral” rating and a $47.00 price target on the stock. B. Riley upped their price target on IonQ from $75.00 to $100.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Finally, Zacks Research upgraded IonQ from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $66.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IONQ. Amazon Com Inc. acquired a new position in IonQ during the second quarter valued at $36,705,000. Y Intercept Hong Kong Ltd acquired a new stake in IonQ during the 2nd quarter worth about $6,104,000. Union Bancaire Privee UBP SA grew its stake in IonQ by 8,150.0% during the 2nd quarter. Union Bancaire Privee UBP SA now owns 82,500 shares of the company’s stock valued at $3,545,000 after acquiring an additional 81,500 shares in the last quarter. Cookson Peirce & Co. Inc. grew its stake in IonQ by 21.5% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 102,466 shares of the company’s stock valued at $4,403,000 after acquiring an additional 18,124 shares in the last quarter. Finally, McGuire Investment Group LLC increased its holdings in shares of IonQ by 136.8% in the 2nd quarter. McGuire Investment Group LLC now owns 165,716 shares of the company’s stock valued at $7,121,000 after purchasing an additional 95,723 shares during the period. 41.42% of the stock is owned by hedge funds and other institutional investors.

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.