The stock of IonQ Inc. (NYSE:IONQ) decreased by -$0.83 on Monday to finish at $14.88, down -5.28 percent. The last five days have seen an average of 20,355,221 shares of common stock traded. 35 times new highs were reached in the current year, with a gain of $11.43. The average number of shares traded over the last 20 days was 13,537,090, while the average volume over the last 50 days totaled 12,623,812.
IONQ stock appreciated 9.82% since last month. On 07/17/23, the company’s shares reached a one-month low of $13.47. The stock touched a high of $20.14 on 08/01/23, after rallying from a low of $3.04 in 52 weeks. The price of IONQ stock has risen by 331.30% or $11.43 this year, reaching a new high 35 times. Still, the stock price is down -26.12% from the 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
IONQ stock investors should be aware that IonQ Inc. (IONQ) stock had its last reported insider trading activity 75 days ago on Jun 01. On Jun 01, Chief Scientist Monroe Christopher sold 200,000 shares at $10.75 each. This transaction resulted in the insider making $2,150,000. On May 25, Chapman Peter Hume sold 11,726 shares at a price of US$10.52. After the transaction, the insider now owns 495,900 shares. General Counsel and Secretary Babinski Laurie A. had earlier sold 7,884 shares on May 25 for $10.52 a share. The transaction was completed for $82,940.
Valuation Metrics
Beta for the stock is 2.12. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 200.14, the price-to-book (PB) ratio of 5.39.
Financial Health
For the three months ended June 29, IonQ Inc.’s quick ratio was 19.30, while its current ratio was 19.30, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 74.80% percent. Based on annual data, it had gross profit of $8.19 million and revenue of $11.13 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. IONQ’s return on assets (ROA) during the last 12 months has been -8.10%. There was a -15.10% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -8.50%.
Earnings Surprise
According to IonQ Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that IonQ Inc.’s quarterly earnings would be -$0.22, but it ended up being -$0.13, beating the consensus by -69.20%. EBITDA was -$35.35 million for the quarter. At the end of IonQ Inc.’s most recent quarter ended June 29, its liabilities totaled 53.61 million, while its total debt was $6.24 million. Equity owned by shareholders amounts to $202.59 million.
Technical Picture
Here’s a quick look at IonQ Inc.’s (IONQ) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 43.95%, suggesting the stock is Neutral, with a 86.16% historical volatility rate.
The stochastic %K and %D were 13.69% and 11.48% respectively, while the average true range (ATR) was 1.77. Based on the 14-day stochastic reading of 12.91%, the RSI (14) reading is 48.36%. On the 9-day MACD Oscillator, the stock is at -1.09, and the 14-day reading is at -1.71.
Analyst Ratings
In a note to investors, Craig Hallum maintained its a Buy rating on IonQ Inc. (NYSE: IONQ). However, the firm raised their price target to $21, indicating a possible decrease of -24.0% in the stock price. Analysts have assigned IonQ Inc. (IONQ) an Overweight rating. IONQ is a stock that is recommended for selling by 0 brokerage firms, while 3 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 3 others recommend it as a buy.
What is IONQ’s price target for the next 12 months?
The current consensus forecast for the stock is between $14.00 and $21.00, with a median target price of $17.00. In analyzing these forecasts, the average price target given by analysts for IonQ Inc. (IONQ) is $17.20.
