Rima Alameddine Sells 9,875 Shares of IonQ, Inc. (NYSE:IONQ) Stock

IonQ, Inc. (NYSE:IONQ - Get Free Report) CRO Rima Alameddine sold 9,875 shares of the firm's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $11.72, for a total transaction of $115,735.00. Following the completion of the transaction, the executive now directly owns 638,908 shares in the company, valued at approximately $7,488,001.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 shares were sold at an average price of $13.72, for a total transaction of $156,065.00.
• 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 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 Stock Up 6.4 %

Shares of IonQ stock traded up $0.80 on Friday, reaching $13.30. The stock had a trading volume of 21,179,596 shares, compared to its average volume of 6,173,340. The company has a 50 day moving average price of $8.29 and a 200 day moving average price of $8.11. The stock has a market capitalization of $2.81 billion, a P/E ratio of -16.02 and a beta of 2.05. IonQ, Inc. has a 1 year low of $6.22 and a 1 year high of $15.49.

IonQ (NYSE:IONQ - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported ($0.18) EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.04. The business had revenue of $11.38 million during the quarter, compared to analysts' expectations of $8.66 million. IonQ had a negative net margin of 525.13% and a negative return on equity of 34.02%. The company's quarterly revenue was up 106.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.16) earnings per share. On average, analysts forecast that IonQ, Inc. will post -0.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IONQ has been the subject of several analyst reports. Benchmark cut their price target on shares of IonQ from $16.00 to $12.00 and set a "buy" rating for the company in a report on Monday, August 12th. The Goldman Sachs Group decreased their price objective on shares of 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 decreased their price objective on shares of 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 reiterated a "buy" rating and set 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $12.00.

Institutional Trading of IonQ

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bleakley Financial Group LLC purchased a new stake in shares of IonQ during the 3rd quarter worth $152,000. Good Life Advisors LLC purchased a new stake in shares of IonQ during the 3rd quarter worth about $250,000. nVerses Capital LLC purchased a new stake in shares of IonQ during the 3rd quarter worth about $72,000. Vontobel Holding Ltd. boosted its holdings in IonQ by 49.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 42,562 shares of the company's stock worth $372,000 after acquiring an additional 14,095 shares during the period. Finally, Creative Planning boosted its stake in shares of IonQ by 47.8% during the 3rd quarter. Creative Planning now owns 24,364 shares of the company's stock valued at $213,000 after buying an additional 7,878 shares during the last quarter. Institutional investors and hedge funds 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.

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