IonQ, Inc. (NYSE:IONQ – Get Free Report)’s share price traded down 5.9% during mid-day trading on Thursday . The company traded as low as $50.16 and last traded at $50.4220. Approximately 21,675,259 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 26,527,502 shares. The stock had previously closed at $53.60.
IonQ News Summary
Here are the key news stories impacting IonQ this week:
- Positive Sentiment: Washington’s push for quantum computing and post-quantum cryptography could benefit IonQ (IONQ) through federal funding, strategic partnerships, and broader policy support. Article title: IonQ (IONQ) Lands In Trump Quantum Orders With 2028 Federal Security Deadline
- Positive Sentiment: Coverage highlighting IonQ as a leader in the quantum race reinforces the company’s status as a key name in a high-growth, strategically important industry. Article title: Washington’s quantum push puts IBM and IonQ on the throne
- Neutral Sentiment: Comparisons with Quantinuum keep the focus on IonQ’s technology leadership, but the article mainly frames the stock as part of a broader competitive debate rather than a near-term catalyst. Article title: IonQ vs. Quantinuum: Which Quantum Computing Accuracy-Leading Stock Looks Like the Better Buy?
- Negative Sentiment: Market commentary warns that investors may be rotating away from richly valued quantum names, with IonQ vulnerable to profit-taking after a strong run. Article title: Quantum Computing Stocks IonQ, Rigetti Computing, and D-Wave Quantum Sent Shockwaves Through Wall Street With This $857 Million Warning
- Negative Sentiment: Recent analyst and market coverage also points to valuation pressure and execution risk, which can weigh on IonQ (IONQ) near term. Article title: Should Investors Choose IonQ Over a More Established Quantum Computing Stock?
Analysts Set New Price Targets
IONQ has been the subject of a number of research analyst reports. Northland Securities upped their price objective on shares of IonQ from $55.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday. Wall Street Zen upgraded shares of IonQ from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 13th. Needham & Company LLC cut their target price on shares of IonQ from $80.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Weiss Ratings raised shares of IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Finally, Benchmark reduced their price target on shares of IonQ from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $69.88.
IonQ Price Performance
The stock has a market capitalization of $18.82 billion, a price-to-earnings ratio of -180.08 and a beta of 3.18. The stock has a 50 day moving average price of $54.67 and a 200-day moving average price of $45.09.
IonQ (NYSE:IONQ – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.08). The firm had revenue of $64.67 million during the quarter, compared to analyst estimates of $49.75 million. IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. The firm’s revenue for the quarter was up 754.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.14) earnings per share. As a group, research analysts forecast that IonQ, Inc. will post -2.26 earnings per share for the current year.
Insider Buying and Selling at IonQ
In other IonQ news, insider Robert T. Cardillo sold 3,773 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $49.90, for a total value of $188,272.70. Following the completion of the sale, the insider owned 139,967 shares in the company, valued at approximately $6,984,353.30. This represents a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John W. Raymond sold 3,815 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $55.01, for a total value of $209,863.15. Following the completion of the sale, the insider owned 80,148 shares of the company’s stock, valued at $4,408,941.48. This trade represents a 4.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 13,102 shares of company stock worth $701,489 in the last quarter. Insiders own 0.55% of the company’s stock.
Institutional Trading of IonQ
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in IonQ by 18.5% during the fourth quarter. Vanguard Group Inc. now owns 34,774,743 shares of the company’s stock worth $1,560,343,000 after purchasing an additional 5,420,037 shares during the last quarter. State Street Corp lifted its stake in IonQ by 42.3% during the 4th quarter. State Street Corp now owns 8,962,789 shares of the company’s stock worth $402,160,000 after acquiring an additional 2,663,230 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of IonQ by 21.9% during the fourth quarter. Geode Capital Management LLC now owns 8,074,301 shares of the company’s stock worth $361,624,000 after purchasing an additional 1,452,463 shares in the last quarter. Norges Bank purchased a new position in shares of IonQ in the fourth quarter valued at approximately $199,753,000. Finally, Marex Group plc grew its holdings in shares of IonQ by 419.1% in the fourth quarter. Marex Group plc now owns 4,083,453 shares of the company’s stock valued at $183,225,000 after purchasing an additional 3,296,866 shares in the last quarter. 41.42% of the stock is currently owned by hedge funds and other 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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.
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