IonQ, Inc. (NYSE:IONQ) CRO Sells $831,001.60 in Stock

IonQ, Inc. (NYSE:IONQ - Get Free Report) CRO Rima Alameddine sold 19,976 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $41.60, for a total transaction of $831,001.60. Following the transaction, the executive now owns 552,592 shares in the company, valued at approximately $22,987,827.20. The trade was a 3.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 value of $2,507,050.00.

IonQ Price Performance

IONQ traded down $0.92 during trading on Friday, hitting $37.79. 19,334,687 shares of the stock traded hands, compared to its average volume of 18,650,839. The business has a 50 day moving average price of $33.19 and a 200 day moving average price of $33.37. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74. The company has a market cap of $8.42 billion, a price-to-earnings ratio of -46.65 and a beta of 2.59.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.51 million. During the same quarter last year, the company posted ($0.19) EPS. The company's revenue for the quarter was down .2% compared to the same quarter last year. On average, equities research analysts predict that IonQ, Inc. will post -0.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on IONQ shares. Morgan Stanley raised their price objective on IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 8th. DA Davidson decreased their price target on IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $50.00 price target on shares of IonQ in a research note on Wednesday. Finally, Benchmark upped their price objective on shares of IonQ from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $40.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. PDS Planning Inc raised its stake in IonQ by 2.6% during the fourth quarter. PDS Planning Inc now owns 11,829 shares of the company's stock worth $494,000 after acquiring an additional 300 shares in the last quarter. Mariner LLC boosted its stake in shares of IonQ by 0.6% in the 4th quarter. Mariner LLC now owns 54,479 shares of the company's stock valued at $2,276,000 after purchasing an additional 350 shares in the last quarter. Allworth Financial LP grew its holdings in shares of IonQ by 15.2% during the 4th quarter. Allworth Financial LP now owns 2,753 shares of the company's stock valued at $116,000 after purchasing an additional 363 shares during the last quarter. Future Financial Wealth Managment LLC increased its position in IonQ by 50.0% during the 1st quarter. Future Financial Wealth Managment LLC now owns 1,500 shares of the company's stock worth $33,000 after purchasing an additional 500 shares in the last quarter. Finally, Miracle Mile Advisors LLC increased its position in IonQ by 2.5% during the 1st quarter. Miracle Mile Advisors LLC now owns 20,500 shares of the company's stock worth $452,000 after purchasing an additional 500 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.

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