IonQ, Inc. (NYSE:IONQ) CRO Sells $188,640.00 in Stock

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 12,000 shares of the 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 sale, the executive now owns 615,533 shares in the company, valued at approximately $9,676,178.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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 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 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 8.0 %

NYSE:IONQ opened at $16.96 on Friday. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $17.05. The firm has a market capitalization of $3.59 billion, a P/E ratio of -20.43 and a beta of 2.05. The stock’s fifty day simple moving average is $9.11 and its 200-day simple moving average is $8.33.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.04. The business had revenue of $11.38 million for the quarter, compared to the consensus estimate of $8.66 million. IonQ had a negative return on equity of 34.02% and a negative net margin of 525.13%. The firm’s revenue was up 106.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.16) EPS. As a group, equities research analysts expect that IonQ, Inc. will post -0.84 earnings per share for the current year.

Institutional Trading of IonQ

Hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC raised its stake in IonQ by 4,824.2% during the 2nd quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock worth $46,000 after buying an additional 6,368 shares during the period. Redwood Wealth Management Group LLC acquired a new stake in IonQ during the 2nd quarter worth $67,000. nVerses Capital LLC acquired a new stake in shares of IonQ in the 3rd quarter valued at about $72,000. Mosley Wealth Management acquired a new stake in shares of IonQ in the 2nd quarter valued at about $81,000. Finally, Xponance Inc. acquired a new stake in shares of IonQ in the 2nd quarter valued at about $88,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

Wall Street Analyst Weigh In

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

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.