IonQ, Inc. (NYSE:IONQ – Get Free Report)’s stock price traded up 3.1% during trading on Tuesday . The company traded as high as $72.42 and last traded at $71.4940. 28,165,353 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 34,518,100 shares. The stock had previously closed at $69.3510.
More IonQ News
Here are the key news stories impacting IonQ this week:
- Positive Sentiment: IonQ opened a 22,000-square-foot quantum R&D lab in Boulder, Colorado, with semiconductor ion-trap chips expected to power its first commercial machine by year-end, reinforcing execution progress and commercialization potential. Article: IonQ just opened a 22,000-square-foot quantum R&D lab in Boulder, Colorado
- Positive Sentiment: IBM’s multibillion-dollar quantum investment is seen as a sign that the market opportunity is real, which could help smaller pure-play names like IonQ attract more attention and capital. Article: What IBM’s $10-Billion Quantum Project Means For Smaller Players (IONQ)
- Positive Sentiment: Coverage emphasizing that IonQ stock surged 59.7% in May points to strong momentum and growing speculative demand in the quantum-computing trade. Article: Why IonQ Stock Skyrocketed 59.7% in May
- Positive Sentiment: Analysts and commentators continue to frame IonQ as a leading pure-play quantum computing company with strong government and education-sector demand, supporting the case for rapid revenue growth. Article: IonQ: Unique Trapped Ion Technology To Sustain Rapid Growth
- Neutral Sentiment: Several articles note heightened investor attention and sector-wide trading interest, but these pieces are more about market sentiment than a specific new catalyst. Article: IonQ, Inc. (IONQ) is Attracting Investor Attention: Here is What You Should Know
- Negative Sentiment: Some commentary warns that quantum stocks are being treated as one crowded trade, which could create volatility if enthusiasm shifts away from the sector. Article: Will Quantinuum Lift Other Quantum Stocks — Or Eat Their Lunch?
Analyst Ratings Changes
A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded IonQ from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Benchmark dropped their target price on IonQ from $75.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Needham & Company LLC cut their target price on IonQ from $80.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Jefferies Financial Group set a $85.00 price target on IonQ in a report on Thursday, May 7th. Finally, Weiss Ratings upgraded IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, IonQ currently has a consensus rating of “Moderate Buy” and an average price target of $68.63.
IonQ Stock Down 4.7%
The business has a 50 day moving average price of $46.01 and a 200 day moving average price of $43.96. The stock has a market cap of $25.39 billion, a P/E ratio of -242.91 and a beta of 3.18.
IonQ (NYSE:IONQ – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). The business had revenue of $64.67 million for the quarter, compared to analysts’ expectations of $49.75 million. IonQ had a net margin of 174.88% and a negative return on equity of 23.20%. IonQ’s revenue was up 754.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.14) EPS. On average, research analysts expect that IonQ, Inc. will post -2.26 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, insider John W. Raymond sold 2,800 shares of IonQ stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $33.34, for a total transaction of $93,352.00. Following the completion of the sale, the insider owned 83,963 shares in the company, valued at $2,799,326.42. This trade represents a 3.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert T. Cardillo sold 3,773 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $49.90, for a total transaction of $188,272.70. Following the completion of the transaction, the insider owned 139,967 shares in the company, valued at $6,984,353.30. This represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.20% of the stock is currently owned by insiders.
Institutional Trading of IonQ
Several institutional investors and hedge funds have recently modified their holdings of IONQ. Royal Bank of Canada grew its stake in IonQ by 12.5% in the first quarter. Royal Bank of Canada now owns 134,176 shares of the company’s stock worth $2,962,000 after purchasing an additional 14,898 shares in the last quarter. Amundi bought a new stake in IonQ during the 1st quarter valued at $630,000. AQR Capital Management LLC lifted its holdings in shares of IonQ by 106.2% in the 1st quarter. AQR Capital Management LLC now owns 57,305 shares of the company’s stock worth $1,265,000 after buying an additional 29,513 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of IonQ by 24.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 450,031 shares of the company’s stock worth $9,932,000 after buying an additional 87,428 shares during the period. Finally, Focus Partners Wealth grew its position in shares of IonQ by 30.3% during the 1st quarter. Focus Partners Wealth now owns 46,782 shares of the company’s stock worth $1,032,000 after buying an additional 10,881 shares in the last quarter. 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. 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.
Featured Articles
- Five stocks we like better than IonQ
- Coke’s $10B India IPO Plan Pops the Top on Hidden Value
- FedEx Unboxes Billions in Post-Spinoff Value
- Marvell’s AI Moment Raises a Bigger Question for Amazon and ServiceNow
- Palo Alto Networks Accelerates Growth 31% on AI Demand
Receive News & Ratings for IonQ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IonQ and related companies with MarketBeat.com's FREE daily email newsletter.
