Is IonQ Inc (NYSE: IONQ) a Risk-Worthy Bet for Bold Investors?

In the latest trading session, 1.88 million IonQ Inc (NYSE:IONQ) shares changed hands as the company’s beta touched 2.21. With the company’s most recent per share price at $11.48 changing hands around $0.32 or 2.91% at last look, the market valuation stands at $2.35B. IONQ’s current price is a discount, trading about -88.15% off its 52-week high of $21.60. The share price had its 52-week low at $4.38, which suggests the last value was 61.85% up since then. When we look at IonQ Inc’s average trading volume, we note the 10-day average is 5.78 million shares, with the 3-month average coming to 1.72.

IonQ Inc (NYSE:IONQ) trade information

Instantly IONQ is in green as seen in intraday trades today. With action 16.36%, the performance over the past five days has been green. The jump to weekly highs of 11.50 added 2.91% to the stock’s daily price. The company’s shares are showing year-to-date downside of -7.30%, with the 5-day performance at 16.36% in the green. However, in the 30-day time frame, IonQ Inc (NYSE:IONQ) is -0.65% down. Looking at the short shares, we see there were 45.77 million shares sold at short interest cover period of 7.67 days.

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IonQ Inc (IONQ) estimates and forecasts

Data shows that the IonQ Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -26.89% over the past 6 months, a -100.00% in annual growth rate that is considerably lower than the industry average of 0.30%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 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 2024 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 Dividends

IonQ Inc is expected to release its next quarterly earnings report on February 28.

IonQ Inc (NYSE:IONQ)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 11.94% of IonQ Inc shares while 37.39% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 42.46%. There are 37.39% institutions holding the IonQ Inc stock share, with Vanguard Group Inc the top institutional holder. As of Sep 29, 2023, the company held 8.65% of the shares, roughly 17.71 million IONQ shares worth $205.91 million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 5.61% or 11.49 million shares worth $133.56 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 5.03 million shares estimated at $58.48 million under it, the former controlled 2.46% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.10% of the shares, roughly 4.3 million shares worth around $50.02 million.

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