Is IonQ Inc. (IONQ) A Good Investment?

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MDVL Stock
MDVL Stock

IonQ Inc. (NYSE:IONQ) finished Wednesday with a subtraction of -$0.07 to close at $5.20, a downside of -1.33 percent. An average of 2,359,580 shares of common stock have been traded in the last five days. There was a fall of -$0.59 in the past week, and it reached a new high 12 times over the past 12 months. The last 20 days have seen an average of 2,860,290 shares traded, while the 50-day average volume stands at 3,349,858.

IONQ stock has decreased by -19.00% in the last month. The company shares reached their 1-month lowest point of $5.09 on 09/08/22. With the stock rallying to its 52-week high on 01/04/22, shares of the company touched a low of $4.16 and a high of $35.90 in 52 weeks. It has reached a new high 2 times so far this year and lost -68.86% or -$11.50 in price. In spite of this, the price is down -85.52% from the 52-week high.


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Insider Transactions

10 days have passed since IonQ Inc. (IONQ) last reported insider trading activity. Monroe Christopher, who is Chief Scientist, most recently acquired $1,548 shares at $5.44 per share on Sep 12. In this transaction, the insider spent $8,421. Chief Financial Officer, Kramer Thomas G., disposed of 3,058 shares at a price of $5.44 on Sep 12. The insider now owns more than $16,636 worth of shares. Prior to that, President and CEO Chapman Peter Hume went on to Sale 7,255 shares at $5.44 each on Sep 12. An amount of $39,467 was transacted.

Valuation Metrics

IonQ Inc. (IONQ) has a trailing price-to-sales (P/S) ratio at 169.81, the price-to-book (PB) ratio at 1.73.

Financial Health

The quick ratio of IonQ Inc. for the three months ended June 29 was 30.10, and the current ratio was 30.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Its gross profit as reported stood at $1.06 million compared to revenue of $2.1 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, IonQ Inc.’s return on assets was -15.10%.

Earnings Surprise

The analyst consensus anticipated IonQ Inc.’s latest quarter earnings to come in at -$0.1 per share, but it turned out to be -$0.01, a 90.00% surprise. For the quarter, EBITDA amounted to -$17.48 million. Shareholders own equity worth $199.21 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at IonQ Inc. (IONQ) price momentum. RSI 9-day as of the close on 21 September was 35.85%, suggesting the stock is Neutral, with historical volatility in this time frame at 69.93%.

As of today, IONQ’s price is $5.42 -10.19% or -$0.59 from its 5-day moving average. IONQ is currently trading -19.13% lower than its 20-day SMA and -37.42% lower than its 100-day SMA. However, the stock’s current price level is +16.33% above the SMA50 and -72.31% below the SMA200.

The stochastic %K and %D were 18.65% and 25.01%, respectively, and the average true range (ATR) was 0.38. With the 14-day stochastic at 12.36% and the average true range at 0.41, the RSI (14) stands at 40.81%. The stock has reached -0.25 on the 9-day MACD Oscillator while the 14-day reading was at -0.25.

Analyst Ratings

Needham launched coverage on IonQ Inc. (NYSE: IONQ) in its analyst report released on June 08, 2022. The firm assigned the stock a Buy rating. The consensus rating for IonQ Inc. (IONQ) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell IONQ, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.

What is IONQ’s price target for the next 12 months?

Analysts predict a range of price targets between $9.00 and $12.00, with a median target of $10.50. Taking a look at these predictions, the average price target given by analysts for IonQ Inc. (IONQ) stock is $10.50.

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