IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine Sells 1,407 Shares of Stock

IonQ, Inc. (NYSE:IONQ) CRO Rima Alameddine sold 1,407 shares of IonQ stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $21.20, for a total transaction of $29,828.40. Following the sale, the executive now owns 592,615 shares in the company, valued at $12,563,438. This represents a 0.24 % decrease in their position. The transaction 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 Wednesday, December 11th, Rima Alameddine sold 21,337 shares of IonQ stock. The shares were sold at an average price of $29.73, for a total value of $634,349.01.

IonQ Stock Down 11.1 %

IonQ stock opened at $18.27 on Tuesday. The stock has a 50-day simple moving average of $35.77 and a 200 day simple moving average of $25.59. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of -22.55 and a beta of 2.50.

Analyst Upgrades and Downgrades

IONQ has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and set a $54.00 price objective on shares of IonQ in a report on Thursday, February 27th. Benchmark cut their price objective on IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Craig Hallum lifted their price objective on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 20th. The Goldman Sachs Group lifted their price objective on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Finally, DA Davidson raised IonQ to a “strong-buy” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $44.80.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IONQ. Pathway Financial Advisers LLC acquired a new stake in IonQ in the fourth quarter worth about $26,000. Smartleaf Asset Management LLC increased its position in IonQ by 421.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 620 shares of the company’s stock worth $27,000 after purchasing an additional 501 shares during the period. Measured Risk Portfolios Inc. acquired a new stake in IonQ in the fourth quarter worth about $27,000. TD Waterhouse Canada Inc. acquired a new stake in IonQ in the fourth quarter worth about $33,000. Finally, Golden State Wealth Management LLC acquired a new stake in IonQ in the fourth quarter worth about $34,000. 41.42% of the stock is owned by institutional investors.

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.