Rima Alameddine Sells 22,875 Shares of IonQ, Inc. (NYSE:IONQ) Stock

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 22,875 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $17.75, for a total value of $406,031.25. Following the transaction, the executive now owns 592,658 shares in the company, valued at $10,519,679.50. This represents a 0.00 % decrease in their position. The transaction 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 Wednesday, October 23rd, Rima Alameddine sold 12,000 shares of IonQ stock. The stock was 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 stock was 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 value 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 value of $7,675.52.

IonQ Stock Up 0.7 %

Shares of IonQ stock traded up $0.12 during trading on Wednesday, reaching $16.87. The company’s stock had a trading volume of 23,647,914 shares, compared to its average volume of 6,966,911. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $18.20. The company has a market capitalization of $3.61 billion, a P/E ratio of -21.35 and a beta of 2.05. The business has a 50 day moving average price of $9.70 and a 200-day moving average price of $8.52.

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, topping the consensus estimate of ($0.22) by $0.04. The firm had revenue of $11.38 million during the quarter, compared to analysts’ expectations of $8.66 million. IonQ had a negative return on equity of 34.02% and a negative net margin of 525.13%. IonQ’s revenue was up 106.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.16) earnings per share. Research analysts predict that IonQ, Inc. will post -0.84 EPS for the current fiscal year.

Hedge Funds Weigh In On IonQ

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. raised its holdings in IonQ by 4.0% during the first quarter. Oppenheimer & Co. Inc. now owns 36,495 shares of the company’s stock worth $365,000 after purchasing an additional 1,400 shares during the last quarter. Arizona State Retirement System raised its holdings in IonQ by 3.6% during the second quarter. Arizona State Retirement System now owns 49,550 shares of the company’s stock worth $348,000 after purchasing an additional 1,731 shares during the last quarter. ProShare Advisors LLC raised its holdings in IonQ by 10.5% during the first quarter. ProShare Advisors LLC now owns 29,427 shares of the company’s stock worth $294,000 after purchasing an additional 2,805 shares during the last quarter. Quest Partners LLC raised its holdings in 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. Finally, Principal Financial Group Inc. raised its holdings in shares of IonQ by 40.6% in the second quarter. Principal Financial Group Inc. now owns 26,801 shares of the company’s stock worth $188,000 after acquiring an additional 7,744 shares during the last quarter. 41.42% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on IONQ. Craig Hallum lowered their target price on IonQ from $21.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 target price on shares of IonQ in a research note on Wednesday, October 2nd. The Goldman Sachs Group lowered 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. Finally, Benchmark lowered their target price on IonQ from $16.00 to $12.00 and set a “buy” rating on the stock in a research note 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.com, IonQ currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

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.