Insider Selling: IonQ (NYSE:IONQ) Director Sells 2,757 Shares of Stock

IonQ, Inc. (NYSE:IONQ) Director Gabrielle 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 transaction of $151,662.57. Following the completion of the transaction, the director directly owned 11,154 shares in the company, valued at $613,581.54. This represents a 19.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

IonQ Price Performance

IONQ stock opened at $58.36 on Tuesday. IonQ, Inc. has a 12 month low of $25.89 and a 12 month high of $84.64. The firm has a market cap of $21.79 billion, a PE ratio of -208.44 and a beta of 3.18. The firm has a 50 day simple moving average of $53.61 and a 200 day simple moving average of $45.04.

IonQ (NYSE:IONQ) last issued its earnings results on Wednesday, May 6th. The company reported ($0.34) earnings per share 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 the consensus estimate of $49.75 million. IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The company’s quarterly revenue was up 754.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.14) earnings per share. As a group, sell-side analysts expect that IonQ, Inc. will post -2.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on IONQ. Needham & Company LLC decreased their target price on IonQ from $80.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Morgan Stanley set a $48.50 target price on IonQ in a report on Thursday, May 7th. Jefferies Financial Group set a $85.00 price target on IonQ in a research report on Thursday, May 7th. Wedbush reissued an “outperform” rating and issued a $60.00 price target on shares of IonQ in a research note on Monday, May 4th. Finally, Weiss Ratings upgraded IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Ten equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.88.

Hedge Funds Weigh In On IonQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in IONQ. Rathbones Group PLC raised its stake in IonQ by 13.0% during the 1st quarter. Rathbones Group PLC now owns 13,032 shares of the company’s stock valued at $376,000 after purchasing an additional 1,500 shares during the period. NewEdge Advisors LLC boosted its position in shares of IonQ by 7.0% in the first quarter. NewEdge Advisors LLC now owns 24,747 shares of the company’s stock worth $713,000 after buying an additional 1,612 shares during the period. Asset Dedication LLC boosted its position in shares of IonQ by 1,556.8% in the first quarter. Asset Dedication LLC now owns 2,071 shares of the company’s stock worth $60,000 after buying an additional 1,946 shares during the period. Cim Investment Management Inc. purchased a new position in shares of IonQ during the first quarter valued at $481,000. Finally, JTC Employer Solutions Trustee Ltd grew its holdings in shares of IonQ by 62.8% during the first quarter. JTC Employer Solutions Trustee Ltd now owns 10,372 shares of the company’s stock valued at $299,000 after buying an additional 4,000 shares in the last quarter. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

IonQ News Roundup

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

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.