IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine Sells 45,000 Shares

IonQ, Inc. (NYSE:IONQ - Get Free Report) CRO Rima Alameddine sold 45,000 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $46.18, for a total transaction of $2,078,100.00. Following the transaction, the executive owned 552,592 shares of the company's stock, valued at approximately $25,518,698.56. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

Shares of NYSE IONQ traded up $0.80 during mid-day trading on Tuesday, reaching $46.00. The company had a trading volume of 19,822,347 shares, compared to its average volume of 19,662,931. The stock has a fifty day moving average of $38.06 and a two-hundred day moving average of $33.97. The company has a market capitalization of $12.03 billion, a price-to-earnings ratio of -30.87 and a beta of 2.55. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on IONQ. Benchmark raised their price objective on shares of IonQ from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Monday. Morgan Stanley upped their price objective on shares of IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a research note on Thursday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price objective on shares of IonQ in a research note on Wednesday, June 11th. Cantor Fitzgerald initiated coverage on shares of IonQ in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $45.00 price objective for the company. Finally, DA Davidson reduced their price objective on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, IonQ presently has a consensus rating of "Moderate Buy" and an average price target of $41.43.

Institutional Trading of IonQ

A number of hedge funds have recently made changes to their positions in the stock. PDS Planning Inc raised its position in IonQ by 2.6% during the fourth quarter. PDS Planning Inc now owns 11,829 shares of the company's stock valued at $494,000 after acquiring an additional 300 shares in the last quarter. Mariner LLC raised its position in IonQ by 0.6% during the fourth quarter. Mariner LLC now owns 54,479 shares of the company's stock valued at $2,276,000 after acquiring an additional 350 shares in the last quarter. Future Financial Wealth Managment LLC raised its position in IonQ by 50.0% during the first quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company's stock valued at $33,000 after acquiring an additional 500 shares in the last quarter. Miracle Mile Advisors LLC raised its position in IonQ by 2.5% during the first quarter. Miracle Mile Advisors LLC now owns 20,500 shares of the company's stock valued at $452,000 after acquiring an additional 500 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in IonQ by 421.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock valued at $27,000 after acquiring an additional 501 shares in 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.