IonQ (NYSE:IONQ) CRO Rima Alameddine Sells 19,976 Shares

Key Points

• Rima Alameddine, the Chief Revenue Officer of IonQ, sold 19,976 shares of the company's stock for approximately $886,934 on September 11, reducing her ownership by 3.61%.
• IonQ's stock price increased by 18.4% recently, reaching $55.72, with a trading volume significantly above its average.
• The company reported quarterly earnings with a revenue of $20.69 million, surpassing analyst estimates, but missed earnings expectations with a loss per share of ($0.70).

IonQ, Inc. (NYSE:IONQ - Get Free Report) CRO Rima Alameddine sold 19,976 shares of the business's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $44.40, for a total transaction of $886,934.40. Following the completion of the transaction, the executive owned 532,616 shares in the company, valued at approximately $23,648,150.40. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, July 7th, Rima Alameddine sold 45,000 shares of IonQ stock. The shares were sold at an average price of $46.18, for a total transaction of $2,078,100.00.

IonQ Stock Up 18.4%

NYSE:IONQ traded up $8.67 on Friday, reaching $55.72. The stock had a trading volume of 68,647,417 shares, compared to its average volume of 13,139,874. The company has a market capitalization of $16.54 billion, a P/E ratio of -27.72 and a beta of 2.54. IonQ, Inc. has a 1-year low of $7.40 and a 1-year high of $56.07. The stock has a fifty day moving average price of $42.33 and a 200-day moving average price of $35.02.

IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.70) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.57). The firm had revenue of $20.69 million during the quarter, compared to analyst estimates of $17.23 million. IonQ had a negative net margin of 885.21% and a negative return on equity of 67.11%. IonQ's quarterly revenue was up 81.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.18) earnings per share. Sell-side analysts predict that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IonQ

Large investors have recently bought and sold shares of the company. Cetera Investment Advisers increased its stake in IonQ by 120.0% in the fourth quarter. Cetera Investment Advisers now owns 34,033 shares of the company's stock valued at $1,422,000 after purchasing an additional 18,566 shares in the last quarter. GAMMA Investing LLC increased its position in shares of IonQ by 4,683.1% during the first quarter. GAMMA Investing LLC now owns 54,336 shares of the company's stock worth $1,199,000 after acquiring an additional 53,200 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of IonQ by 54.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,735 shares of the company's stock worth $203,000 after acquiring an additional 3,068 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in shares of IonQ by 15.7% during the first quarter. Stratos Wealth Partners LTD. now owns 20,740 shares of the company's stock worth $458,000 after acquiring an additional 2,814 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of IonQ by 6.6% during the first quarter. Rhumbline Advisers now owns 323,930 shares of the company's stock worth $7,149,000 after acquiring an additional 20,127 shares in the last quarter. Institutional investors own 41.42% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Benchmark upped their target price on shares of IonQ from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Sanford C. Bernstein assumed coverage on shares of IonQ in a research report on Wednesday, July 30th. They set a "market perform" rating on the stock. Oppenheimer assumed coverage on shares of IonQ in a research report on Wednesday, July 30th. They set an "outperform" rating on the stock. Needham & Company LLC reiterated a "buy" rating on shares of IonQ in a research report on Monday, August 4th. Finally, DA Davidson downgraded shares of IonQ from a "buy" rating to a "neutral" rating and set a $35.00 price target for the company. in a research note on Thursday, August 7th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, IonQ currently has a consensus rating of "Moderate Buy" and an average target price of $46.78.

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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