IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine Sells 11,375 Shares

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 11,375 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $13.72, for a total transaction of $156,065.00. Following the completion of the sale, the executive now directly owns 627,533 shares in the company, valued at approximately $8,609,752.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, October 16th, Rima Alameddine sold 9,875 shares of IonQ stock. The shares were sold at an average price of $11.72, for a total value 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 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 Stock Performance

Shares of NYSE IONQ opened at $13.30 on Friday. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -16.02 and a beta of 2.05. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $15.49. The firm’s 50-day simple moving average is $8.29 and its 200 day simple moving average is $8.11.

IonQ (NYSE:IONQ) last posted its earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $11.38 million for the quarter, compared to analyst estimates of $8.66 million. During the same quarter last year, the company earned ($0.16) earnings per share. The company’s revenue for the quarter was up 106.4% on a year-over-year basis. On average, sell-side analysts predict that IonQ, Inc. will post -0.84 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on IONQ. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price target on shares of IonQ in a research note on Wednesday, October 2nd. The Goldman Sachs Group cut 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. Craig Hallum decreased their price objective on IonQ from $21.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Benchmark cut their target price 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 issued a buy rating to the stock. Based on data from MarketBeat.com, IonQ has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Institutional Trading of IonQ

Several institutional investors have recently made changes to their positions in the company. Quest Partners LLC lifted its position in shares of IonQ by 4,824.2% during the second 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 IonQ in the 2nd quarter valued at about $67,000. nVerses Capital LLC bought a new position in shares of IonQ during the 3rd quarter worth approximately $72,000. Mosley Wealth Management purchased a new position in shares of IonQ in the 2nd quarter worth approximately $81,000. Finally, Xponance Inc. bought a new position in shares of IonQ in the second quarter valued at approximately $88,000. Institutional investors own 41.42% of the company’s stock.

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.