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

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 21,337 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $634,349.01. Following the transaction, the executive now owns 571,321 shares in the company, valued at approximately $16,985,373.33. This trade represents a 3.60 % 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 hyperlink.

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

• On Monday, October 28th, Rima Alameddine sold 22,875 shares of IonQ stock. The stock was 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 shares were 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 stock was 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 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 stock was sold at an average price of $10.72, for a total value of $7,675.52.

IonQ Price Performance

NYSE:IONQ opened at $33.86 on Friday. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $38.45. The firm has a 50 day simple moving average of $22.61 and a 200-day simple moving average of $12.85. The firm has a market cap of $7.33 billion, a PE ratio of -41.80 and a beta of 2.49.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IONQ. Needham & Company LLC lifted their target price on shares of IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Benchmark upped their target price 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 raised their price target on IonQ from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Institutional Trading of IonQ

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IONQ. Milestone Asset Management LLC acquired a new stake in shares of IonQ in the second quarter worth $248,000. Bank of New York Mellon Corp increased its holdings 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 valued at $6,443,000 after purchasing an additional 131,439 shares in the last quarter. Principal Financial Group Inc. raised its position in IonQ by 40.6% in the second quarter. Principal Financial Group Inc. now owns 26,801 shares of the company’s stock valued at $188,000 after purchasing an additional 7,744 shares during the period. Rhumbline Advisers lifted its stake in shares of IonQ by 13.5% during the second quarter. Rhumbline Advisers now owns 295,918 shares of the company’s stock worth $2,080,000 after purchasing an additional 35,158 shares in the last quarter. Finally, Foundations Investment Advisors LLC grew its stake in shares of IonQ by 99.5% in the second quarter. Foundations Investment Advisors LLC now owns 121,242 shares of the company’s stock valued at $852,000 after buying an additional 60,483 shares in the last quarter. Hedge funds and other 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.