Rima Alameddine Sells 22,875 Shares of IonQ, Inc. (NYSE:IONQ) Stock

On Monday, October 28th, Rima Alameddine, the Chief Revenue Officer (CRO) of IonQ, Inc. (NYSE:IONQ), sold a total of 22,875 shares of the company's stock. This transaction was conducted at an average price of $17.75 per share, resulting in a total sale value of $406,031.25. Following this sale, Alameddine now owns 592,658 shares in IonQ, valued at approximately $10,519,679.50. Notably, this sale represents a 0.00% decrease in her total ownership of IonQ's stock. Details of this transaction were disclosed via a legal filing with the Securities and Exchange Commission (SEC).

Recent Trading Activity by Rima Alameddine

In addition to the recent sale, Alameddine has been active in trading IonQ stock. Here are the details of her recent transactions:

• On October 23rd, she sold 12,000 shares at an average price of $15.72, totaling $188,640.00.
• On October 18th, she sold 11,375 shares at an average price of $13.72, totaling $156,065.00.
• On October 16th, she sold 9,875 shares at an average price of $11.72, totaling $115,735.00.
• On October 14th, she sold 9,159 shares at $10.72, totaling $98,184.48.
• On October 11th, she sold 716 shares at $10.72, totaling $7,675.52.

Stock Performance and Market Overview

On the same day as the recent sale, IonQ's stock saw an increase of 0.7%, rising by $0.12, and closing at $16.87. The trading volume reached 23,647,914 shares, which is significantly higher than the average trading volume of 6,966,911 shares. Over the past year, IonQ's stock has experienced a low of $6.22 and a high of $18.20. Currently, the company holds a market capitalization of $3.61 billion, with a price-to-earnings (P/E) ratio of -21.35 and a beta of 2.05. The stock has a 50-day moving average price of $9.70 and a 200-day moving average price of $8.52.

Recent Earnings Report from IonQ

IonQ published its quarterly earnings on August 7th. The company reported earnings per share (EPS) of ($0.18), which was better than the expected EPS of ($0.22) by $0.04. The reported revenue for this quarter was $11.38 million, exceeding analysts' predictions of $8.66 million. Despite these gains in revenue and an annual increase of 106.4%, the company continues to face challenges with a negative return on equity of 34.02% and a negative net margin of 525.13%. Analysts project a continued loss for the current fiscal year, estimating an EPS of -0.84.

Institutional Investment in IonQ

Several institutional investors have made movements in IonQ stock recently. For instance, Oppenheimer & Co. Inc. increased its stake in IonQ by 4.0% in the first quarter, owning 36,495 shares worth approximately $365,000 after purchasing an additional 1,400 shares. The Arizona State Retirement System also raised its holdings by 3.6% in the second quarter, totaling 49,550 shares valued at around $348,000. Overall, institutional and hedge fund ownership of IonQ stock stands at 41.42%.

Analyst Ratings and Price Target Adjustments

Analysts have recently reviewed IonQ stock and adjusted their price targets. Craig Hallum decreased their target price from $21.00 to $15.00 while maintaining a "buy" rating. Similarly, Needham & Company LLC reiterated a "buy" rating with a target price of $13.00. On the other hand, Goldman Sachs Group lowered their target price from $11.50 to $8.00, rating the stock as neutral. Benchmark also decreased its price target from $16.00 to $12.00 while sustaining a buy rating. Overall, IonQ receives a moderate buy rating with an average target price of $12.00 according to market data.

Company Overview of IonQ

IonQ, Inc. is engaged in creating general-purpose quantum computing systems within the United States. The company allows access to its quantum computers, which possess varying qubit capacities, primarily through cloud services such as Amazon Web Services (AWS), Microsoft Azure Quantum, and Google Cloud Marketplace.

IonQ, Stocks, Investment