In the latest trading session, 2.25 million IonQ Inc (NYSE:IONQ) shares changed hands as the company’s beta touched 2.34. With the company’s most recent per share price at $13.04 changing hands around $0.34 or 2.68% at last look, the market valuation stands at $2.67B. IONQ’s current price is a discount, trading about -65.64% off its 52-week high of $21.60. The share price had its 52-week low at $3.04, which suggests the last value was 76.69% up since then. When we look at IonQ Inc’s average trading volume, we note the 10-day average is 10.22 million shares, with the 3-month average coming to 10.90 million.
Analysts gave the IonQ Inc (IONQ) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 6 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended IONQ as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. IonQ Inc’s EPS for the current quarter is expected to be -$0.2.
IonQ Inc (NYSE:IONQ) trade information
Instantly IONQ is in green as seen in intraday trades today. With action 12.90%, the performance over the past five days has been green. The jump to weekly highs of 13.58 on Friday, 11/17/23 added 2.68% to the stock’s daily price. The company’s shares are showing year-to-date upside of 277.97%, with the 5-day performance at 12.90% in the green. However, in the 30-day time frame, IonQ Inc (NYSE:IONQ) is 3.57% up. Looking at the short shares, we see there were 43.01 million shares sold at short interest cover period of 4.4 days.
The consensus price target for the stock as assigned by Wall Street analysts is $16.00, meaning bulls need an upside of 18.5% from its recent market value. According to analyst projections, IONQ’s forecast low is $12.00 with $21.00 as the target high. To hit the forecast high, the stock’s price needs a -61.04% plunge from its current level, while the stock would need to tank 7.98% for it to hit the projected low.
IonQ Inc (IONQ) estimates and forecasts
Data shows that the IonQ Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 20.07% over the past 6 months, a 17.50% in annual growth rate that is considerably higher than the industry average of 4.40%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for IonQ Inc will fall -122.20%, while the growth in revenue is estimated to hit -50.00% for the next quarter. Year-over-year growth is forecast to reach 94.90% up from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $5.76 million. 5 analysts are of the opinion that IonQ Inc’s revenue for the quarter ending Mar 2024 will be $6.64 million. The company’s revenue for the corresponding quarters a year ago was $3.8 million and $4.29 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 51.50%. The estimates for the next quarter sales put growth at 55.00%.
The 2023 estimates are for IonQ Inc earnings to decrease by -209.00%, but the outlook for the next 5-year period is at 20.00% per year.
IonQ Inc is expected to release its next quarterly earnings report on November 08.
IonQ Inc (NYSE:IONQ)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 11.12% of IonQ Inc shares while 41.33% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 46.50%. There are 41.33% institutions holding the IonQ Inc stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 8.56% of the shares, roughly 17.34 million IONQ shares worth $234.56 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 5.57% or 11.29 million shares worth $152.78 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 4.82 million shares estimated at $65.28 million under it, the former controlled 2.38% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.05% of the shares, roughly 4.15 million shares worth around $56.17 million.