IonQ Inc (NYSE:IONQ) shares, rose in value on Thursday, April 04, with the stock price up by 2.59% to the previous day’s close as strong demand from buyers drove the stock to $9.56.
Actively observing the price movement in the recent trading, the stock is buoying the session at $9.32. The value of beta (5-year monthly) is 2.16. Referring to stock’s 52-week performance, its high was $21.60, and the low was $5.29. On the whole, IONQ has fluctuated by 2.04% over the past month.
With the market capitalization of IonQ Inc currently standing at about $1.99 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 09, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.25, which is expected to increase to -$0.23 for fiscal year -$1.06 and then to about -$1.12 by fiscal year 2025. Data indicates that the EPS growth is expected to be -35.90% in 2025, while the next year’s EPS growth is forecast to be -5.70%.
Analysts have estimated the company’s revenue for the quarter at $7.07 million, with a low estimate of $7 million and a high estimate of $7.27 million. According to the average forecast, sales growth in current quarter could jump up 65.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $38.93 million, representing an increase of 76.60% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that IONQ’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of IONQ currently trading nearly -1.16% and -7.42% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 46.49, while the 7-day volatility ratio is showing 4.64% which for the 30-day chart, stands at 6.41%. Furthermore, IonQ Inc (IONQ)’s beta value is 2.14, and its average true range (ATR) is 0.58.
A comparison of IonQ Inc (IONQ) with its peers suggests the former has fared considerably weaker in the market. IONQ showed an intraday change of 2.59% in today’s session so far, and over the past year, it grew by 55.47%%.
Data on historical trading for IonQ Inc (NYSE:IONQ) indicates that the trading volumes over the past 10 days have averaged 4.63 million and over the past 3 months, they’ve averaged 6.99 million. According to company’s latest data on outstanding shares, there are 206.61 million shares outstanding.
Nearly 16.71% of IonQ Inc’s shares belong to company insiders and institutional investors own 37.55% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 42.49 million shares as on Mar 15, 2024, resulting in a short ratio of 4.45. According to the data, the short interest in IonQ Inc (IONQ) stood at 20.41% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 46.26 million. The stock has fallen by -22.83% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the IONQ stock heading into the next quarter.
