IonQ Inc. (NYSE: IONQ) stock jumped 7.96% on Friday to $4.34 against a previous-day closing price of $4.02. With 3.7 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.87 million shares. During the session, the Computer Hardware company that operates in wider Technology sector, reached to the highest price of $4.4400 whereas the lowest price it dropped to was $4.1400. The 52-week range on IONQ shows that it touched its highest point at $17.66 and its lowest point at $3.04 during that stretch. It currently has a 1-year price target of $9.40.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IONQ was up-trending over the past week, with a rise of 7.16%, but this was up by 17.30% over a month. Three-month performance dropped to -13.37% while six-month performance fell -17.49%. The stock lost -63.19% in the past year, while it has gained 25.80% so far this year. A look at the trailing 12-month EPS for IONQ yields -0.54 with Next year EPS estimates of -0.53. For the next quarter, that number is -0.12. This implies an EPS growth rate of -76.80% for this year and -96.30% for next year.
Float and Shares Shorts:
At present, 198.30 million IONQ shares are outstanding with a float of 175.36 million shares on hand for trading. On Oct 13, 2022, short shares totaled 23.9 million, which was 12.00% higher than short shares on Sep 14, 2022. In addition to Mr. Peter Chapman as the firm’s Pres, CEO & Director, Mr. Thomas G. Kramer serves as its Chief Financial Officer.
Through their ownership of 47.58% of IONQ’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 33.78% of IONQ, in contrast to 13.34% held by mutual funds. Shares owned by individuals account for 11.30%. As the largest shareholder in IONQ with 6.71% of the stake, The Vanguard Group, Inc. holds 13,416,872 shares worth 13,416,872. A second-largest stockholder of IONQ, BlackRock Fund Advisors, holds 7,351,811 shares, controlling over 3.68% of the firm’s shares. MIC Capital Management UK LLP is the third largest shareholder in IONQ, holding 4,230,442 shares or 2.12% stake. With a 2.41% stake in IONQ, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 4,817,950 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 1.93% of IONQ stock, is the second-largest Mutual Fund holder. It holds 3,864,310 shares valued at 13.33 million. iShares Russell 2000 ETF holds 1.33% of the stake in IONQ, owning 2,663,967 shares worth 9.19 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IONQ since 5 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With IONQ analysts setting a high price target of $12.00 and a low target of $5.99, the average target price over the next 12 months is $8.80. Based on these targets, IONQ could surge 176.5% to reach the target high and rise by 38.02% to reach the target low. Reaching the average price target will result in a growth of 102.76% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. IONQ will report FY 2022 earnings on 03/25/2024. Analysts have provided yearly estimates in a range of -$0.27 being high and -$0.28 being low. For IONQ, this leads to a yearly average estimate of -$0.28. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. IonQ Inc. surprised analysts by -$0.02 when it reported -$0.12 EPS against a consensus estimate of -$0.10. The surprise factor in the prior quarter was $0.09. Based on analyst estimates, the high estimate for the next quarter is -$0.10 and the low estimate is -$0.13. The average estimate for the next quarter is thus -$0.12.