IonQ (NYSE:IONQ) Director Sells $151,662.57 in Stock

IonQ, Inc. (NYSE:IONQ) Director Gabrielle Toledano sold 2,757 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $55.01, for a total transaction of $151,662.57. Following the completion of the sale, the director directly owned 11,154 shares in the company, valued at approximately $613,581.54. This trade represents a 19.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

IonQ Stock Up 3.2%

Shares of NYSE:IONQ opened at $58.36 on Tuesday. The company’s 50-day moving average price is $53.61 and its 200 day moving average price is $45.04. The company has a market cap of $21.79 billion, a PE ratio of -208.44 and a beta of 3.18. IonQ, Inc. has a fifty-two week low of $25.89 and a fifty-two week high of $84.64.

IonQ (NYSE:IONQ) last posted its earnings results 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 the consensus estimate of $49.75 million. IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.IonQ’s revenue for the quarter was up 754.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.14) EPS. As a group, equities analysts anticipate that IonQ, Inc. will post -2.26 EPS for the current year.

Analyst Upgrades and Downgrades

IONQ has been the topic of several recent analyst reports. Wall Street Zen raised IonQ from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. Morgan Stanley set a $48.50 price target on IonQ in a research note on Thursday, May 7th. Jefferies Financial Group set a $85.00 price target on IonQ in a report on Thursday, May 7th. Wedbush restated an “outperform” rating and set a $60.00 price objective on shares of IonQ in a research note on Monday, May 4th. Finally, 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 report on Monday. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, IonQ presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.88.

Institutional Investors Weigh In On IonQ

A number of institutional investors have recently added to or reduced their stakes in IONQ. Ameriflex Group Inc. increased its position in shares of IonQ by 485.7% during the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock valued at $25,000 after purchasing an additional 340 shares during the period. Beaird Harris Wealth Management LLC lifted its holdings in shares of IonQ by 117.4% in the third quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company’s stock valued at $31,000 after buying an additional 270 shares during the period. Accent Capital Management LLC boosted its stake in IonQ by 171.8% during the fourth quarter. Accent Capital Management LLC now owns 587 shares of the company’s stock valued at $26,000 after buying an additional 371 shares in the last quarter. Kelleher Financial Advisors bought a new position in IonQ during the third quarter valued at about $36,000. Finally, Fortitude Family Office LLC grew its holdings in IonQ by 3,800.0% during the fourth quarter. Fortitude Family Office LLC now owns 624 shares of the company’s stock worth $28,000 after acquiring an additional 608 shares during the period. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about IonQ

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: Northland Securities raised its price target on IonQ to $70 from $55 and kept an outperform rating, reinforcing optimism after recent strength in the stock. Benzinga source
• Positive Sentiment: Investor enthusiasm has also been helped by IonQ’s recent product momentum, including the Clavis XG Multiplex launch and the company’s broader push into quantum networking, sensing, and security. Yahoo Finance source
• Positive Sentiment: Sector-wide optimism picked up after reports that the Trump administration is preparing executive orders to accelerate quantum computing development, which could benefit IonQ alongside peers. WSJ source
• Positive Sentiment: IonQ also added a former Quantum Industry Canada CEO, a move that may strengthen its industry relationships and leadership bench. BetaKit source
• Neutral Sentiment: Shareholders approved the board, but the pay vote showed some resistance, making the governance update mixed overall. TipRanks source
• Negative Sentiment: Director Kathryn Chou sold 2,757 shares, and insider John W. Raymond sold 3,815 shares, adding to recent insider selling that can pressure investor sentiment. InsiderTrades source
• Negative Sentiment: Some analysts and market commentary are still cautioning that IonQ’s valuation is rich and that higher rates could weigh on near-term upside despite long-term quantum potential. Zacks source

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.