IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine Sells 65,000 Shares

IonQ, Inc. (NYSE:IONQ - Get Free Report) CRO Rima Alameddine sold 65,000 shares of IonQ stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $38.57, for a total transaction of $2,507,050.00. Following the transaction, the executive now directly owns 552,592 shares in the company, valued at approximately $21,313,473.44. The trade was a 10.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $41.60, for a total value of $831,001.60.

IonQ Price Performance

NYSE IONQ traded down $0.92 on Friday, hitting $37.79. The stock had a trading volume of 19,334,687 shares, compared to its average volume of 18,650,839. The business's fifty day moving average price is $33.19 and its 200 day moving average price is $33.37. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of -46.65 and a beta of 2.59. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.14. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The firm had revenue of $7.57 million for the quarter, compared to the consensus estimate of $7.51 million. During the same period in the previous year, the business earned ($0.19) EPS. The firm's revenue for the quarter was down .2% on a year-over-year basis. As a group, sell-side analysts anticipate that IonQ, Inc. will post -0.86 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IONQ. Benchmark lifted their price target on IonQ from $40.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday. Needham & Company LLC reaffirmed a "buy" rating and set a $50.00 price objective on shares of IonQ in a research report on Wednesday. DA Davidson cut their target price on IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Morgan Stanley boosted 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 four have issued a buy rating to the company's stock. According to MarketBeat, IonQ currently has a consensus rating of "Moderate Buy" and an average target price of $40.00.

Institutional Investors Weigh In On IonQ

Several institutional investors have recently added to or reduced their stakes in IONQ. JPMorgan Chase & Co. increased its holdings 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 acquiring an additional 2,293,231 shares in the last quarter. Chevy Chase Trust Holdings LLC acquired a new stake in IonQ in the 4th quarter worth approximately $32,060,000. Ameriprise Financial Inc. purchased a new stake in IonQ during the 4th quarter worth approximately $29,519,000. Arrowstreet Capital Limited Partnership acquired a new position in IonQ during the 4th quarter valued at approximately $29,513,000. Finally, Invesco Ltd. raised its holdings in shares of IonQ by 439.3% in the fourth quarter. Invesco Ltd. now owns 857,078 shares of the company's stock worth $35,800,000 after buying an additional 698,146 shares during the last quarter. Institutional investors and hedge funds 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.

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