IonQ Inc [IONQ] moved down -6.31: Why It’s Important

IonQ Inc [NYSE: IONQ] closed the trading session at $9.36. The company report on March 26, 2024 at 8:00 AM that Renowned Quantum Algorithm Expert Dr. Martin Roetteler to Lead IonQ’s Quantum Applications Team.

The quantum applications team is focused on accelerating the path to commercial quantum advantage.

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Roetteler’s decades of quantum industry experience include leadership roles at Microsoft and NEC Laboratories.

The stocks have a year to date performance of -24.46 percent and weekly performance of -1.99 percent. The stock has been moved at -37.10 percent over the last six months. The stock has performed -12.20 percent around the most recent 30 days and changed -24.46 percent over the most recent 3-months.

If compared to the average trading volume of 7.04M shares, IONQ reached to a volume of 5121670 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 $15.26 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 2.00. 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.

Craig Hallum have made an estimate for IonQ Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 11, 2023. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on April 26, 2023, representing the official price target for IonQ Inc stock. Previously, the target price had yet another raise to $9, while Needham analysts kept a Buy rating on IONQ stock.

The Average True Range (ATR) for IonQ Inc is set at 0.62, with the Price to Sales ratio for IONQ stock in the period of the last 12 months amounting to 88.43. The Price to Book ratio for the last quarter was 3.99, with the Price to Cash per share for the same quarter was set at 1.71.

IONQ stock trade performance evaluation

IonQ Inc [IONQ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.99. With this latest performance, IONQ shares dropped by -12.20% in over the last four-week period, additionally sinking by -37.10% over the last 6 months – not to mention a rise of 84.25% 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 43.84, with the RSI for the last a single of trading hit 43.47, and the three-weeks RSI is set at 44.01 for IonQ Inc [IONQ]. The present Moving Average for the last 50 days of trading for this stock 10.38, while it was recorded at 9.60 for the last single week of trading, and 12.96 for the last 200 days.

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

IonQ Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.49 and a Current Ratio set at 10.49.

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

With the latest financial reports released by the company, IonQ Inc posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at -0.11/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -27.30%. 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]: Institutional Ownership

The top three institutional holders of IONQ stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in IONQ stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in IONQ stock with ownership which is approximately 5.8386%.