IonQ (NYSE:IONQ) Stock Price Down 2.2% – Should You Sell?

IonQ, Inc. (NYSE:IONQ)’s share price traded down 2.2% during mid-day trading on Friday . The stock traded as low as $48.49 and last traded at $49.4330. 67,417,784 shares were traded during mid-day trading, an increase of 152% from the average daily volume of 26,799,264 shares. The stock had previously closed at $50.56.

More IonQ News

Here are the key news stories impacting IonQ this week:

• Positive Sentiment: Recent articles highlight IonQ as a key beneficiary of Washington’s growing quantum-computing push, with federal support and strategic interest potentially boosting demand for the company’s technology. Washington’s Quantum Push Puts IBM and IonQ on the Throne (IONQ)
• Positive Sentiment: IonQ also drew attention for a new quantum security product, Clavis XG Multiplex, which could expand its addressable market in cybersecurity and metro fiber-network applications. IonQ Unveils New Quantum Security Solution as Cybersecurity Risks Grow
• Neutral Sentiment: IonQ is also seeing elevated investor and media attention, which can keep trading volume high and the stock volatile, even without a specific new catalyst. Investors Heavily Search IonQ, Inc. (IONQ): Here is What You Need to Know
• Neutral Sentiment: Multiple roundup and comparison pieces on quantum-computing stocks, including IonQ versus rivals, suggest investors remain focused on the sector’s long-term potential rather than any single near-term fundamental change. IonQ vs. Quantinuum: Which Quantum Computing Accuracy-Leading Stock Looks Like the Better Buy?
• Negative Sentiment: The stock recently suffered a sharper drop than the broader market, reinforcing concerns about valuation and ongoing volatility after a sizable one-day decline. IonQ, Inc. (IONQ) Suffers a Larger Drop Than the General Market: Key Insights

Analyst Ratings Changes

Several brokerages recently issued reports on IONQ. Jefferies Financial Group set a $85.00 price objective on IonQ in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of IonQ from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th. Northland Securities lifted their price target on shares of IonQ from $55.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday. Needham & Company LLC reduced their price target on shares of IonQ from $80.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Finally, Weiss Ratings raised shares of IonQ from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Ten 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $69.88.

IonQ Stock Down 2.2%

The company has a market capitalization of $18.45 billion, a P/E ratio of -176.55 and a beta of 3.18. The business has a fifty day moving average price of $54.96 and a 200 day moving average price of $45.08.

IonQ (NYSE:IONQ) 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). IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The firm had revenue of $64.67 million for the quarter, compared to the consensus estimate of $49.75 million. During the same quarter in the previous year, the business posted ($0.14) earnings per share. The firm’s quarterly revenue was up 754.7% compared to the same quarter last year. As a group, equities analysts forecast that IonQ, Inc. will post -2.26 earnings per share for the current year.

Insider Buying and Selling at IonQ

In other news, insider John W. Raymond sold 3,815 shares of the business’s stock in a transaction 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 sale, the insider owned 80,148 shares of the company’s stock, valued at $4,408,941.48. The trade was a 4.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kathryn K. Chou sold 2,757 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $55.02, for a total transaction of $151,690.14. Following the completion of the sale, the director directly owned 62,608 shares in the company, valued at approximately $3,444,692.16. This represents a 4.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 13,102 shares of company stock valued at $701,489 over the last quarter. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On IonQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in IONQ. Ameriflex Group Inc. boosted its stake in shares of IonQ by 485.7% during the 3rd quarter. Ameriflex Group Inc. now owns 410 shares of the company’s stock worth $25,000 after buying an additional 340 shares during the last quarter. Accent Capital Management LLC increased its position 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 during the last quarter. Fortitude Family Office LLC raised 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 in the last quarter. EverSource Wealth Advisors LLC raised its holdings in IonQ by 216.5% during the first quarter. EverSource Wealth Advisors LLC now owns 959 shares of the company’s stock worth $28,000 after acquiring an additional 656 shares in the last quarter. Finally, PeakShares LLC bought a new stake in IonQ during the first quarter worth about $29,000. 41.42% of the stock is owned by institutional investors.

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.