Insider Selling: IonQ, Inc. (NYSE:IONQ) CRO Sells 11,375 Shares of Stock

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 11,375 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $13.72, for a total transaction of $156,065.00. Following the completion of the transaction, the executive now owns 627,533 shares of the company’s stock, valued at approximately $8,609,752.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 value of $7,675.52.

IonQ Price Performance

IonQ stock opened at $13.30 on Monday. IonQ, Inc. has a one year low of $6.22 and a one year high of $15.49. The business’s fifty day moving average is $8.29 and its 200 day moving average is $8.09. The stock has a market capitalization of $2.81 billion, a PE ratio of -16.02 and a beta of 2.05.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Craig Hallum dropped their target price on IonQ from $21.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group dropped their price target on shares of IonQ from $11.50 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Needham & Company LLC restated a “buy” rating and set a $13.00 price objective on shares of IonQ in a research note on Wednesday, October 2nd. Finally, Benchmark dropped their target price on shares of IonQ from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Institutional Investors Weigh In On IonQ

A number of large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its stake in shares of IonQ by 1,598.7% in the 1st quarter. SG Americas Securities LLC now owns 2,084,625 shares of the company’s stock worth $20,825,000 after buying an additional 1,961,909 shares during the last quarter. Vanguard Group Inc. boosted its position in IonQ by 5.1% in the first quarter. Vanguard Group Inc. now owns 18,824,996 shares of the company’s stock worth $188,062,000 after purchasing an additional 918,265 shares during the last quarter. Carnegie Investment Counsel bought a new stake in shares of IonQ during the 3rd quarter valued at about $5,036,000. Gagnon Securities LLC purchased a new stake in shares of IonQ during the 1st quarter valued at about $2,410,000. Finally, Hussman Strategic Advisors Inc. lifted its stake in shares of IonQ by 126.7% in the 1st quarter. Hussman Strategic Advisors Inc. now owns 357,000 shares of the company’s stock worth $3,566,000 after purchasing an additional 199,500 shares during the period. Institutional investors 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.