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 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 sale, the executive now directly owns 615,533 shares of the company’s stock, valued at approximately $9,676,178.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 shares were 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 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 Trading Up 8.0 %

NYSE IONQ traded up $1.25 on Friday, hitting $16.96. 25,198,904 shares of the company traded hands, compared to its average volume of 6,644,919. The business’s 50 day moving average price is $8.92 and its 200-day moving average price is $8.27. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $17.05. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of -19.93 and a beta of 2.05.

IonQ (NYSE:IONQ) last released its earnings results 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 company had revenue of $11.38 million during the quarter, compared to analyst estimates of $8.66 million. IonQ had a negative net margin of 525.13% and a negative return on equity of 34.02%. The firm’s quarterly revenue was up 106.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.16) EPS. As a group, sell-side analysts predict that IonQ, Inc. will post -0.84 earnings per share for the current year.

Institutional Trading of IonQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of IonQ by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 18,824,996 shares of the company’s stock valued at $188,062,000 after purchasing an additional 918,265 shares during the last quarter. SG Americas Securities LLC grew its holdings in IonQ by 27.3% during the 2nd quarter. SG Americas Securities LLC now owns 2,654,531 shares of the company’s stock valued at $18,661,000 after buying an additional 569,906 shares in the last quarter. Bank of New York Mellon Corp increased its stake in IonQ by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 916,536 shares of the company’s stock worth $6,443,000 after acquiring an additional 131,439 shares during the last quarter. Carnegie Investment Counsel purchased a new stake in shares of IonQ during the 3rd quarter worth approximately $5,036,000. Finally, Hussman Strategic Advisors Inc. boosted its position in shares of IonQ by 126.7% during the 1st quarter. Hussman Strategic Advisors Inc. now owns 357,000 shares of the company’s stock valued at $3,566,000 after acquiring an additional 199,500 shares during the last quarter. Institutional investors own 41.42% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on IONQ. Needham & Company LLC restated a “buy” rating and issued a $13.00 target price on shares of IonQ in a report on Wednesday, October 2nd. Craig Hallum reduced their price objective on IonQ from $21.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. 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 report on Friday, August 9th. Finally, Benchmark cut their price target on IonQ from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.