IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine Sells 21,337 Shares of Stock

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 21,337 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $634,349.01. Following the completion of the sale, the executive now directly owns 571,321 shares of the company’s stock, valued at approximately $16,985,373.33. This represents a 3.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, October 28th, Rima Alameddine sold 22,875 shares of IonQ stock. The shares were sold at an average price of $17.75, for a total value of $406,031.25.
• On Wednesday, October 23rd, Rima Alameddine sold 12,000 shares of IonQ stock. The shares were sold at an average price of $15.72, for a total value of $188,640.00.
• 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 value 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 value 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 stock was sold at an average price of $10.72, for a total transaction of $7,675.52.

IonQ Trading Up 12.9 %

Shares of IONQ opened at $33.86 on Friday. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of -41.80 and a beta of 2.49. The firm’s fifty day simple moving average is $22.61 and its 200-day simple moving average is $12.85. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $38.45.

IonQ (NYSE:IONQ) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). The business had revenue of $12.40 million for the quarter, compared to analysts’ expectations of $10.56 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The firm’s quarterly revenue was up 102.1% on a year-over-year basis. During the same period last year, the firm earned ($0.22) earnings per share. On average, analysts predict that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IonQ

Several hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC grew its holdings 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 worth $46,000 after purchasing an additional 6,368 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new stake in IonQ in the second quarter valued at approximately $67,000. nVerses Capital LLC acquired a new stake in shares of IonQ in the third quarter valued at approximately $72,000. Mosley Wealth Management acquired a new position in shares of IonQ in the 2nd quarter valued at $81,000. Finally, Xponance Inc. acquired a new position in IonQ in the second quarter valued at $88,000. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on IONQ shares. Needham & Company LLC upped their price objective on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Benchmark lifted their price objective on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Craig Hallum increased their target price on IonQ from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

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.