The Vanguard Group, Inc. recently announced the acquisition of new stake in IonQ Inc (NYSE:IONQ). The institutional investor has increased its shareholding in the Technology company by 2.13% to 17.4 million shares with purchase of 0.36 million shares. This fresh investment now brings its stake to 8.59% valued currently at $167.77 million. In addition, BlackRock Fund Advisors raised its holdings by 0.22 million to 10.29 million shares. And SSgA Funds Management, Inc. has lifted its position by 7.28% or 0.23 million shares – to 3.44 million shares.
With over 9.82 million IonQ Inc (IONQ) shares trading Monday and a closing price of $13.76 on the day, the dollar volume was approximately $135.07 million. The shares have shown a positive half year performance of 39.84% and its price on 12/04/23 gained nearly 1.10%. Currently, there are 199.86M common shares owned by the public and among those 167.67M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for IONQ have a consensus price objective of $16.00. The analysts have set the share’s price value over the next 12 months at a high of $21.00 and a low of $12.00. The average price target is 14.0% above its recent price level and a downside to the estimated low will see the stock lose -14.67% over that period. But an upside of 34.48% will see the stock hit the forecast high price target while median target price for the stock is $16.00.
The top 3 mutual fund holders in IonQ Inc are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market ETF owns 5.04 million shares of the company’s stock, all valued at over $48.59 million. The company bought an additional 9619.0 shares recently to bring their total holdings to about 2.49% of the shares outstanding. Vanguard Small Cap Index Fund bought 2028.0 shares to see its total holdings expand to 4.18 million shares valued at over $40.26 million and representing 2.06% of the shares outstanding. iShares Russell 2000 ETF sold 37465.0 shares to bring its total holdings to over 3.73 million shares at a value of $35.98 million. iShares Russell 2000 ETF now owns shares totaling to 1.84% of the shares outstanding.
Shares of IonQ Inc (NYSE: IONQ) opened at $13.32, down -$0.29 from a prior closing price of $13.61. However, the script later moved the day high at 14.09, up 1.10%. The company’s stock has a 5-day price change of 13.72% and -27.46% over the past three months. IONQ shares are trading 298.84% year to date (YTD), with the 12-month market performance up to 177.42% higher. It has a 12-month low price of $3.04 and touched a high of $21.60 over the same period. IONQ has an average intraday trading volume of 10.40 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 13.61%, 7.67%, and 24.49% respectively.
Institutional ownership of IonQ Inc (NYSE: IONQ) shares accounts for 31.81% of the company’s 199.86M shares outstanding. Mutual fund holders own 17.86%, while other institutional holders and individual stakeholders account for 33.42% and 14.31% respectively.
It has a market capitalization of $2.82B and a beta (3y monthly) value of 2.28. The earnings-per-share (ttm) stands at -$0.67. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.58% over the week and 7.50% over the month.
Analysts forecast that IonQ Inc (IONQ) will achieve an EPS of $Ionis Pharmaceuticals, Inc. for the current quarter, $51.46 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $ProShares Trust ProShares S&P G while analysts give the company a high EPS estimate of $Assure Holdings Corp.. Comparatively, EPS for the current quarter was $ioneer Ltd a year ago. Earnings per share for the fiscal year are expected to decrease by -209.00%, and -13.92% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate IonQ Inc (IONQ) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 3 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the IONQ, a number of firms have released research notes about the stock. Craig Hallum stated their Buy rating for the stock in a research note on August 11, 2023, with the firm’s price target at $12-$21.
