IonQ Inc. [IONQ] Stock trading around $5.56 per share: What’s Next?

IonQ Inc. [NYSE: IONQ] closed the trading session at $5.56 on 11/10/22. The day’s price range saw the stock hit a low of $5.06, while the highest price level was $5.56. The company report on November 4, 2022 that IonQ Chief Scientist to Present at Bank of America AI/Disruptive Technology Conference.

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IonQ (NYSE: IONQ), an industry leader in quantum computing, today announced that Dr. Chris Monroe, IonQ’s Co-Founder and Chief Scientist, will present at the Bank of America AI/Disruptive Technology Conference on Thursday, November 10, 2022 at 12:40 PM ET. Dr. Monroe’s discussion is titled, “Advancements in Quantum Computing.” The webcast link will be available on IonQ’s website here, or directly here.

The stocks have a year to date performance of -66.71 percent and weekly performance of 7.75 percent. The stock has been moved at 16.81 percent over the last six months. The stock has performed 10.10 percent around the most recent 30 days and changed -10.47 percent over the most recent 3-months.

If compared to the average trading volume of 3.10M shares, IONQ reached to a volume of 4013035 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about IonQ Inc. [IONQ]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IONQ shares is $10.80 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IONQ stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Needham have made an estimate for IonQ Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 08, 2022. While these analysts kept the previous recommendation, Goldman raised their target price to Neutral. The new note on the price target was released on November 22, 2021, representing the official price target for IonQ Inc. stock.

The Average True Range (ATR) for IonQ Inc. is set at 0.39, with the Price to Sales ratio for IONQ stock in the period of the last 12 months amounting to 181.69. The Price to Book ratio for the last quarter was 1.85, with the Price to Cash per share for the same quarter was set at 2.02.

IONQ stock trade performance evaluation

IonQ Inc. [IONQ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.75. With this latest performance, IONQ shares gained by 10.10% in over the last four-week period, additionally plugging by 16.81% over the last 6 months – not to mention a drop of -69.50% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IONQ stock in for the last two-week period is set at 54.37, with the RSI for the last a single of trading hit 56.91, and the three-weeks RSI is set at 52.64 for IonQ Inc. [IONQ]. The present Moving Average for the last 50 days of trading for this stock 5.29, while it was recorded at 5.11 for the last single week of trading, and 7.77 for the last 200 days.

IonQ Inc. [IONQ]: An insightful look at the core fundamentals

When it comes to the capital structure of this company, IonQ Inc. [IONQ] has a Total Debt to Total Equity ratio set at 0.01. Additionally, IONQ Total Debt to Total Capital is recorded at 0.01, with Total Debt to Total Assets ending up at 0.01.

Reflecting on the efficiency of the workforce at the company, IonQ Inc. [IONQ] managed to generate an average of -$8,107,299 per employee.IonQ Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 30.10 and a Current Ratio set at 30.10.

Earnings per share (EPS) analysis for IonQ Inc. [IONQ] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IONQ. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for IonQ Inc. go to 20.00%.

IonQ Inc. [IONQ]: Insider Ownership positions

There are presently around $502 million, or 47.50% of IONQ stock, in the hands of institutional investors. The top three institutional holders of IONQ stocks are: NEA MANAGEMENT COMPANY, LLC with ownership of 26,350,067, which is approximately -10% of the company’s market cap and around 8.20% of the total institutional ownership; VANGUARD GROUP INC, holding 12,597,710 shares of the stock with an approximate value of $70.04 million in IONQ stocks shares; and BLACKROCK INC., currently with $43.42 million in IONQ stock with ownership of nearly 390.985% of the company’s market capitalization.

Positions in IonQ Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 79 institutional holders increased their position in IonQ Inc. [NYSE:IONQ] by around 26,875,834 shares. Additionally, 49 investors decreased positions by around 8,260,304 shares, while 28 investors held positions by with 55,139,480 shares. The mentioned changes placed institutional holdings at 90,275,618 shares, according to the latest SEC report filing. IONQ stock had 39 new institutional investments in for a total of 4,935,599 shares, while 13 institutional investors sold positions of 1,387,938 shares during the same period.


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