Rima Alameddine Sells 9,159 Shares of IonQ, Inc. (NYSE:IONQ) Stock

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 9,159 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $10.72, for a total transaction of $98,184.48. Following the transaction, the executive now owns 648,783 shares in the company, valued at approximately $6,954,953.76. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• 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

NYSE:IONQ traded down $0.34 during mid-day trading on Tuesday, reaching $10.50. The stock had a trading volume of 12,693,309 shares, compared to its average volume of 6,003,976. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $15.49. The business has a 50 day simple moving average of $7.95 and a 200 day simple moving average of $8.03. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of -12.65 and a beta of 2.05.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on IONQ shares. The Goldman Sachs Group reduced their target price on shares of IonQ from $11.50 to $8.00 and set a “neutral” rating for the company in a report on Friday, August 9th. 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 note on Thursday, August 8th. 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. Finally, Needham & Company LLC restated a “buy” rating and set a $13.00 price target on shares of IonQ in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Institutional Investors Weigh In On IonQ

A number of hedge funds and other institutional investors have recently bought and sold shares of IONQ. Quest Partners LLC lifted its position in shares of IonQ by 4,824.2% during the 2nd quarter. Quest Partners LLC now owns 6,500 shares of the company’s stock valued at $46,000 after acquiring an additional 6,368 shares during the period. Redwood Wealth Management Group LLC acquired a new position in IonQ during the second quarter worth $67,000. Mosley Wealth Management purchased a new stake in IonQ during the second quarter worth $81,000. QCM Cayman Ltd. acquired a new stake in IonQ in the first quarter valued at $120,000. Finally, Xponance Inc. purchased a new position in shares of IonQ in the second quarter valued at $88,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

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.