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

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 22,875 shares of IonQ stock in a transaction on Monday, October 28th. The shares were sold at an average price of $17.75, for a total value of $406,031.25. Following the completion of the transaction, the executive now owns 592,658 shares of the company’s stock, valued at approximately $10,519,679.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• 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 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 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 Stock Performance

IONQ opened at $15.05 on Friday. IonQ, Inc. has a one year low of $6.22 and a one year high of $18.20. The stock has a market capitalization of $3.22 billion, a P/E ratio of -19.04 and a beta of 2.05. The business’s 50-day simple moving average is $9.85 and its 200-day simple moving average is $8.57.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. The company 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%. The firm’s revenue for the quarter was up 106.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.16) earnings per share. On average, equities research analysts forecast that IonQ, Inc. will post -0.84 EPS for the current fiscal year.

Analysts Set New Price Targets

IONQ has been the topic of a number of analyst reports. Benchmark cut their price target on IonQ from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. The Goldman Sachs Group cut their target price 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 lowered their price target on IonQ from $21.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $13.00 price objective on shares of IonQ in a report on Wednesday, October 2nd.

Institutional Investors Weigh In On IonQ

Several hedge funds have recently modified their holdings of IONQ. Quest Partners LLC raised its position 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 last quarter. Redwood Wealth Management Group LLC purchased a new position in shares of IonQ during the 2nd quarter worth approximately $67,000. nVerses Capital LLC acquired a new stake in shares of IonQ in the 3rd quarter valued at approximately $72,000. Mosley Wealth Management purchased a new stake in shares of IonQ in the second quarter valued at approximately $81,000. Finally, Xponance Inc. acquired a new position in IonQ during the second quarter worth $88,000. 41.42% of the stock is owned by institutional investors and hedge funds.

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.