Insider Selling: IonQ, Inc. (NYSE:IONQ) CRO Sells 12,000 Shares of Stock

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 12,000 shares of IonQ stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.72, for a total value of $188,640.00. Following the completion of the transaction, the executive now directly owns 615,533 shares in the company, valued at $9,676,178.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 shares were 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 shares were 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 traded up $1.25 during mid-day trading on Friday, hitting $16.96. 25,198,904 shares of the stock traded hands, compared to its average volume of 6,644,919. The company has a market cap of $3.59 billion, a price-to-earnings ratio of -19.93 and a beta of 2.05. The stock has a fifty day moving average price of $8.92 and a 200-day moving average price of $8.27. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $17.05.

IonQ (NYSE:IONQ) last announced its earnings results on Wednesday, August 7th. The company reported ($0.18) 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 analysts’ expectations 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 quarter in the previous year, the business posted ($0.16) EPS. As a group, sell-side analysts predict that IonQ, Inc. will post -0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On IonQ

Institutional investors and hedge funds have recently made changes to their positions in the business. Impact Partnership Wealth LLC purchased a new stake in shares of IonQ in the third quarter worth $89,000. Bleakley Financial Group LLC purchased a new stake in IonQ during the 3rd quarter valued at about $152,000. Good Life Advisors LLC bought a new stake in IonQ during the 3rd quarter valued at about $250,000. nVerses Capital LLC bought a new stake in IonQ during the 3rd quarter valued at about $72,000. Finally, Vontobel Holding Ltd. lifted its stake in shares of IonQ by 49.5% in the third quarter. Vontobel Holding Ltd. now owns 42,562 shares of the company’s stock worth $372,000 after buying an additional 14,095 shares in the last quarter. 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.