Shares of IonQ, Inc. (NYSE:IONQ – Get Free Report) rose 3.7% during trading on Tuesday . The company traded as high as $36.06 and last traded at $35.5240. Approximately 20,025,522 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 25,824,059 shares. The stock had previously closed at $34.24.
More IonQ News
Here are the key news stories impacting IonQ this week:
- Positive Sentiment: Institutional options activity has turned bullish, with a trader recently buying November 60-strike calls and another large call bet signaling speculation that IonQ could rebound from oversold levels. The Ugliest Stocks in the Market Just Got a Very Expensive Vote of Confidence
- Positive Sentiment: Investor attention remains elevated around IonQ and the broader quantum-computing theme, which can support trading interest and occasional short-term rebounds. IonQ, Inc. (IONQ) is Attracting Investor Attention: Here is What You Should Know
- Neutral Sentiment: MarketBeat also noted IonQ among photonics and quantum-related companies benefiting from broader enthusiasm for AI infrastructure and enabling technologies, though the article was more about sector positioning than a direct catalyst for shares. 3 Photonics Companies Making Quantum Tech Possible
- Neutral Sentiment: One article framed IonQ as a possible “next Palantir” style winner, reinforcing the long-term growth narrative for quantum computing, but without any near-term operating update. 1 Quantum Computing Stock That Could Be the Next Palantir
- Negative Sentiment: Recent trading has also been weak, with IonQ closing lower in the latest session as investors rotated away from speculative growth and pre-revenue names. Why IonQ, Inc. (IONQ) Dipped More Than Broader Market Today
Analyst Upgrades and Downgrades
IONQ has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of IonQ from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. Jefferies Financial Group set a $85.00 target price on shares of IonQ in a research note on Thursday, May 7th. Northland Securities lifted their price target on IonQ from $55.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price objective on shares of IonQ in a research note on Thursday, June 11th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $60.00 price objective on shares of IonQ in a research report on Monday, May 4th. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.88.
IonQ Trading Up 3.7%
The company has a market cap of $13.26 billion, a price-to-earnings ratio of -126.87 and a beta of 3.23. The business’s 50 day moving average price is $54.21 and its 200-day moving average price is $44.46.
IonQ (NYSE:IONQ – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.08). The company 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 quarterly revenue was up 754.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.14) EPS. Equities research analysts forecast that IonQ, Inc. will post -2.26 EPS for the current fiscal year.
Insider Transactions at IonQ
In other news, insider John W. Raymond sold 3,815 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $55.01, for a total transaction of $209,863.15. Following the transaction, the insider owned 80,148 shares in the company, valued at approximately $4,408,941.48. This trade represents a 4.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gabrielle B. Toledano sold 2,757 shares of IonQ stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $55.01, for a total value of $151,662.57. Following the sale, the director directly owned 11,154 shares of the company’s stock, valued at approximately $613,581.54. The trade was a 19.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 13,102 shares of company stock worth $701,489 over the last three months. Company insiders own 0.55% of the company’s stock.
Institutional Investors Weigh In On IonQ
Hedge funds and other institutional investors have recently modified their holdings of the company. Accent Capital Management LLC grew its stake in shares of IonQ by 171.8% in the fourth quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock valued at $26,000 after acquiring an additional 371 shares in the last quarter. Fortitude Family Office LLC raised its stake in IonQ by 3,800.0% in the 4th quarter. Fortitude Family Office LLC now owns 624 shares of the company’s stock worth $28,000 after purchasing an additional 608 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in IonQ by 216.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 959 shares of the company’s stock valued at $28,000 after purchasing an additional 656 shares during the period. PeakShares LLC bought a new stake in IonQ in the 1st quarter valued at about $29,000. Finally, Beaird Harris Wealth Management LLC grew its position in shares of IonQ by 117.4% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock worth $31,000 after purchasing an additional 270 shares in the last quarter. Institutional investors and hedge funds own 41.42% of the company’s stock.
IonQ Company Profile
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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