Insider Selling: IonQ, Inc. (NYSE:IONQ) CRO Sells 21,337 Shares of Stock

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 21,337 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $634,349.01. Following the completion of the sale, the executive now directly owns 571,321 shares in the company, valued at $16,985,373.33. This represents a 3.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, October 28th, Rima Alameddine sold 22,875 shares of IonQ stock. The shares were sold at an average price of $17.75, for a total transaction of $406,031.25.
• On Wednesday, October 23rd, Rima Alameddine sold 12,000 shares of IonQ stock. The stock was sold at an average price of $15.72, for a total transaction of $188,640.00.
• 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 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 value 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 Stock Performance

IonQ stock opened at $33.83 on Friday. The stock has a 50-day simple moving average of $22.61 and a 200-day simple moving average of $12.88. The company has a market capitalization of $7.32 billion, a P/E ratio of -41.77 and a beta of 2.49. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $38.45.

IonQ (NYSE:IONQ) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.02). The firm had revenue of $12.40 million during the quarter, compared to analysts’ expectations of $10.56 million. IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. IonQ’s quarterly revenue was up 102.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.22) EPS. As a group, analysts forecast that IonQ, Inc. will post -0.86 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IONQ. Benchmark boosted their target price on IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Craig Hallum boosted their price objective on shares of IonQ from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC upped their target price on shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Milestone Asset Management LLC purchased a new stake in shares of IonQ in the second quarter valued at about $248,000. Bank of New York Mellon Corp increased its position in IonQ by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 916,536 shares of the company’s stock valued at $6,443,000 after acquiring an additional 131,439 shares during the period. Principal Financial Group Inc. raised its stake in IonQ by 40.6% during the 2nd quarter. Principal Financial Group Inc. now owns 26,801 shares of the company’s stock valued at $188,000 after acquiring an additional 7,744 shares during the last quarter. Rhumbline Advisers lifted its position in IonQ by 13.5% during the 2nd quarter. Rhumbline Advisers now owns 295,918 shares of the company’s stock worth $2,080,000 after acquiring an additional 35,158 shares during the period. Finally, Foundations Investment Advisors LLC grew its stake in shares of IonQ by 99.5% in the 2nd quarter. Foundations Investment Advisors LLC now owns 121,242 shares of the company’s stock valued at $852,000 after purchasing an additional 60,483 shares during the last quarter. 41.42% of the stock is owned by hedge funds and other institutional investors.

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.