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

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 9,159 shares of the business’s stock in a transaction on Monday, October 14th. The shares were 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 of the company’s stock, valued at approximately $6,954,953.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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 transaction of $7,675.52.

IonQ Price Performance

IONQ stock opened at $10.50 on Wednesday. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $15.49. The business has a 50-day moving average price of $7.95 and a 200 day moving average price of $8.03. The company has a market capitalization of $2.22 billion, a P/E ratio of -12.65 and a beta of 2.05.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IONQ shares. Needham & Company LLC restated a “buy” rating and issued a $13.00 price objective on shares of IonQ in a research report on Wednesday, October 2nd. The Goldman Sachs Group cut their target price on IonQ from $11.50 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Benchmark decreased their target price on IonQ from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Craig Hallum dropped their target price on shares of IonQ from $21.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $12.00.

Institutional Investors Weigh In On IonQ

A number of hedge funds have recently made changes to their positions in the stock. Quest Partners LLC raised its holdings in IonQ by 4,824.2% in the second quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock worth $46,000 after purchasing an additional 6,368 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new position in IonQ during the 2nd quarter valued at about $67,000. Mosley Wealth Management purchased a new stake in IonQ in the second quarter valued at about $81,000. QCM Cayman Ltd. acquired a new stake in IonQ in the first quarter worth about $120,000. Finally, Xponance Inc. acquired a new stake in IonQ in the 2nd quarter worth approximately $88,000. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

IonQ Company Profile

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.