IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine Sells 9,159 Shares

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 9,159 shares of IonQ stock in a transaction on Monday, October 14th. The stock was sold at an average price of $10.72, for a total transaction of $98,184.48. Following the sale, the executive now directly owns 648,783 shares in the company, valued at approximately $6,954,953.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 value of $7,675.52.

IonQ Trading Up 17.3 %

Shares of IONQ opened at $12.31 on Thursday. The firm has a market cap of $2.60 billion, a P/E ratio of -14.83 and a beta of 2.05. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $15.49. The company’s 50-day moving average price is $8.06 and its 200 day moving average price is $8.06.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.04. The firm had revenue of $11.38 million for the quarter, compared to analyst estimates of $8.66 million. IonQ had a negative net margin of 525.13% and a negative return on equity of 34.02%. IonQ’s revenue was up 106.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.16) EPS. Equities research analysts forecast that IonQ, Inc. will post -0.84 earnings per share for the current year.

Analysts Set New Price Targets

IONQ has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price target on shares of IonQ in a report on Wednesday, October 2nd. Craig Hallum reduced their price target on IonQ from $21.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group reduced their price target on IonQ from $11.50 to $8.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, Benchmark reduced their price target on IonQ from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, IonQ has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Institutional Trading of IonQ

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in IonQ by 5.1% during the first quarter. Vanguard Group Inc. now owns 18,824,996 shares of the company’s stock worth $188,062,000 after purchasing an additional 918,265 shares during the period. SG Americas Securities LLC increased its stake in IonQ by 27.3% during the second quarter. SG Americas Securities LLC now owns 2,654,531 shares of the company’s stock worth $18,661,000 after purchasing an additional 569,906 shares during the period. Bank of New York Mellon Corp increased its stake in IonQ by 16.7% during the second quarter. Bank of New York Mellon Corp now owns 916,536 shares of the company’s stock worth $6,443,000 after purchasing an additional 131,439 shares during the period. Carnegie Investment Counsel purchased a new stake in IonQ during the third quarter worth about $5,036,000. Finally, Hussman Strategic Advisors Inc. increased its stake in IonQ by 126.7% during the first quarter. Hussman Strategic Advisors Inc. now owns 357,000 shares of the company’s stock worth $3,566,000 after purchasing an additional 199,500 shares during the period. 41.42% of the stock is currently 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.