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

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 19,976 shares of the 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 sale, the executive directly owned 532,616 shares in the company, valued at $23,648,150.40. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through 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 stock was sold at an average price of $46.18, for a total transaction of $2,078,100.00.

IonQ Stock Up 18.4%

Shares of IONQ stock opened at $55.72 on Friday. The company has a 50 day moving average price of $42.33 and a 200-day moving average price of $35.06. IonQ, Inc. has a 52 week low of $7.40 and a 52 week high of $56.07. The firm has a market capitalization of $16.54 billion, a PE ratio of -27.72 and a beta of 2.54.

IonQ (NYSE:IONQ) last announced 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). IonQ had a negative return on equity of 67.11% and a negative net margin of 885.21%.The company had revenue of $20.69 million during the quarter, compared to the consensus estimate of $17.23 million. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. The business’s revenue was up 81.6% compared to the same quarter last year. Analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IONQ has been the subject of a number of research analyst reports. Wolfe Research initiated coverage on shares of IonQ in a research note on Wednesday, July 30th. They issued a “peer perform” rating for the company. B. Riley began coverage on shares of IonQ in a research note on Wednesday, August 27th. They issued a “buy” rating and a $61.00 price target for the company. Sanford C. Bernstein began coverage on shares of IonQ in a research report on Wednesday, July 30th. They set a “market perform” rating for the company. Rosenblatt Securities assumed coverage on shares of IonQ in a research report on Tuesday, July 29th. They set a “buy” rating and a $70.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of IonQ in a report on Monday, August 4th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.78.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IONQ. TD Waterhouse Canada Inc. lifted its stake in shares of IonQ by 28.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,008 shares of the company’s stock worth $40,000 after acquiring an additional 223 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of IonQ by 50.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the company’s stock worth $36,000 after acquiring an additional 279 shares during the last quarter. Rothschild Investment LLC lifted its stake in shares of IonQ by 12.2% during the 2nd quarter. Rothschild Investment LLC now owns 2,720 shares of the company’s stock worth $117,000 after acquiring an additional 295 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of IonQ by 4.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 6,882 shares of the company’s stock worth $296,000 after acquiring an additional 306 shares during the last quarter. Finally, Prospera Financial Services Inc boosted its stake in shares of IonQ by 0.8% during the second quarter. Prospera Financial Services Inc now owns 42,286 shares of the company’s stock valued at $1,817,000 after purchasing an additional 320 shares during the period. Institutional investors own 41.42% of the company’s stock.

About IonQ

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.