Shares of IonQ Inc IONQ are trading higher Thursday morning after the quantum computing company announced a collaboration with the U.S. Department of Energy (DOE).
What To Know: IonQ and the DOE signed a memorandum of understanding (MOU) to advance quantum technologies in space. IonQ said it will design and showcase the execution of an orbital demonstration of quantum-secure communications using its satellite platform.
“By working alongside the DOE, we aim to demonstrate the power of quantum computing and networking to enable new applications for secure communications,” said Niccolo de Masi, chairman and CEO of IonQ. “This MOU reflects the growing importance of quantum technologies in achieving global leadership in space innovation and cybersecurity.”
IonQ shares hit all-time highs on Wednesday after the company entered into a definitive agreement to acquire advanced quantum sensor company Vector Atomic. Vector has over $200 million in government contracts for national security operations.
IonQ also announced this week that it completed its acquisition of U.K.-based quantum computing company Oxford Ionics. Oxford's patented innovations in trapped ion quantum systems are expected to complement IonQ's existing hardware and software stack and support the company’s expansion into global markets.
IONQ Analysis: IonQ stock shows strong momentum, indicating bullish sentiment. Benzinga Edge rankings show IonQ has a high momentum score of 99.28, according to Benzinga Pro.
Support is identified at $65.00, which aligns with recent lows, while resistance sits at $70.00, a key psychological level. The stock is testing this resistance, and a breakout could signal further upside.
The RSI is calculated at 70.15, indicating that the stock is approaching overbought territory, which could lead to a pullback if momentum wanes. The MACD is showing a bullish crossover, but the lines are converging, hinting at potential weakening momentum.
Analyst sentiment remains positive, with Needham maintaining a Buy rating with an $80 price target on Sept. 17, Benchmark maintaining a Buy rating with a $75 price target on Sept. 16 and B. Riley Securities maintaining a Buy rating with a $75 price target on Sept. 15.
IONQ Price Action: IonQ shares were up 4.1% at $68.12 at the time of publication on Thursday, according to Benzinga Pro.
Read Next:
Photo: Shutterstock.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
