Insider Selling: IonQ, Inc. (NYSE:IONQ) CRO Sells 45,000 Shares of Stock

IonQ, Inc. (NYSE:IONQ - Get Free Report) CRO Rima Alameddine sold 45,000 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $46.18, for a total value of $2,078,100.00. Following the completion of the transaction, the executive directly owned 552,592 shares in the company, valued at approximately $25,518,698.56. This represents a 7.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, June 11th, Rima Alameddine sold 19,976 shares of IonQ stock. The shares were sold at an average price of $41.60, for a total transaction of $831,001.60.
• On Friday, June 13th, Rima Alameddine sold 65,000 shares of IonQ stock. The shares were sold at an average price of $38.57, for a total transaction of $2,507,050.00.

IonQ Stock Performance

IONQ traded up $0.43 on Thursday, hitting $45.99. The company had a trading volume of 19,480,471 shares, compared to its average volume of 19,877,900. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The stock has a fifty day simple moving average of $38.76 and a 200-day simple moving average of $34.13.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.14. IonQ had a negative net margin of 753.20% and a negative return on equity of 63.35%. The business had revenue of $7.57 million during the quarter, compared to analyst estimates of $7.51 million. During the same period last year, the business posted ($0.19) earnings per share. IonQ's quarterly revenue was down .2% compared to the same quarter last year. On average, analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. DA Davidson cut their price target on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Needham & Company LLC restated a "buy" rating and set a $50.00 price target on shares of IonQ in a research report on Wednesday, June 11th. Benchmark increased their target price on shares of IonQ from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Monday. Cantor Fitzgerald started coverage on shares of IonQ in a report on Wednesday, July 2nd. They set an "overweight" rating and a $45.00 target price for the company. Finally, Morgan Stanley increased their target price on shares of IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $41.43.

Hedge Funds Weigh In On IonQ

A number of institutional investors and hedge funds have recently made changes to their positions in IONQ. JPMorgan Chase & Co. increased its stake in shares of IonQ by 1,310.9% during the fourth quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company's stock valued at $103,095,000 after purchasing an additional 2,293,231 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in shares of IonQ during the fourth quarter valued at approximately $29,519,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of IonQ during the fourth quarter valued at approximately $29,513,000. Invesco Ltd. increased its position in shares of IonQ by 439.3% during the fourth quarter. Invesco Ltd. now owns 857,078 shares of the company's stock valued at $35,800,000 after acquiring an additional 698,146 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of IonQ by 475.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 688,764 shares of the company's stock valued at $28,771,000 after acquiring an additional 569,061 shares in the last quarter. 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.