IonQ, Inc. (NYSE:IONQ) CRO Sells $188,640.00 in Stock

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.72, for a total value of $188,640.00. Following the sale, the executive now owns 615,533 shares in the company, valued at approximately $9,676,178.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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 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 value 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 value 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 8.0 %

Shares of IONQ stock opened at $16.96 on Monday. The stock has a 50-day simple moving average of $9.11 and a 200 day simple moving average of $8.33. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $17.05. The stock has a market capitalization of $3.59 billion, a P/E ratio of -20.43 and a beta of 2.05.

IonQ (NYSE:IONQ) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.04. The company had revenue of $11.38 million for 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 was up 106.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.16) earnings per share. On average, sell-side analysts anticipate that IonQ, Inc. will post -0.84 earnings per share for the current year.

Institutional Investors Weigh In On IonQ

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in IonQ by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 17,906,731 shares of the company’s stock worth $221,864,000 after purchasing an additional 193,924 shares in the last quarter. Janney Montgomery Scott LLC raised its position in IonQ by 283.1% during the first quarter. Janney Montgomery Scott LLC now owns 112,175 shares of the company’s stock valued at $1,121,000 after buying an additional 82,891 shares during the period. StoneX Group Inc. acquired a new position in IonQ during the first quarter valued at $420,000. Hussman Strategic Advisors Inc. lifted its stake in 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 acquiring an additional 199,500 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in IonQ by 1,598.7% during the 1st quarter. SG Americas Securities LLC now owns 2,084,625 shares of the company’s stock worth $20,825,000 after acquiring an additional 1,961,909 shares during the period. Institutional investors and hedge funds own 41.42% of the company’s stock.

Analyst Upgrades and Downgrades

IONQ has been the topic of several research reports. Craig Hallum cut their price objective on IonQ from $21.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group reduced their price objective on IonQ from $11.50 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Benchmark decreased their price objective 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. Finally, Needham & Company LLC reissued a “buy” rating and set a $13.00 target price on shares of IonQ in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

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.