Nisa Investment Advisors LLC Grows Position in IonQ, Inc. (NYSE:IONQ)

Nisa Investment Advisors LLC raised its position in IonQ, Inc. (NYSE:IONQ) by 625.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,764 shares of the company’s stock after purchasing an additional 16,177 shares during the period. Nisa Investment Advisors LLC’s holdings in IonQ were worth $784,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. City State Bank purchased a new position in shares of IonQ during the fourth quarter worth about $36,000. Versant Capital Management Inc lifted its stake in shares of IonQ by 1,348.5% in the fourth quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock valued at $40,000 after purchasing an additional 890 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in IonQ during the fourth quarter worth about $42,000. GAMMA Investing LLC increased its stake in IonQ by 73.2% in the 4th quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock valued at $47,000 after purchasing an additional 480 shares in the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of IonQ in the 3rd quarter worth about $72,000. Institutional investors and hedge funds own 41.42% of the company’s stock.

IonQ Price Performance

Shares of IONQ stock opened at $38.81 on Wednesday. The firm has a market cap of $8.40 billion, a P/E ratio of -47.92 and a beta of 2.43. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The firm has a fifty day moving average of $37.66 and a two-hundred day moving average of $20.19.

IonQ (NYSE:IONQ) last released its earnings results on Wednesday, November 6th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.02). IonQ had a negative net margin of 457.85% and a negative return on equity of 36.82%. The business had revenue of $12.40 million for the quarter, compared to the consensus estimate of $10.56 million. During the same quarter in the previous year, the firm earned ($0.22) EPS. The firm’s revenue for the quarter was up 102.1% on a year-over-year basis. On average, sell-side analysts expect that IonQ, Inc. will post -0.86 EPS for the current year.

Analysts Set New Price Targets

IONQ has been the subject of a number of analyst reports. Needham & Company LLC boosted their price target on IonQ from $13.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Benchmark upped their price target on shares of IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. DA Davidson assumed coverage on shares of IonQ in a research report on Thursday, December 19th. They set a “buy” rating and a $50.00 target price for the company. The Goldman Sachs Group boosted their price objective on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Finally, Craig Hallum boosted their price objective on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Insider Buying and Selling at IonQ

In other news, CEO Peter Hume Chapman sold 13,106 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $389,641.38. Following the transaction, the chief executive officer now directly owns 414,363 shares of the company’s stock, valued at approximately $12,319,011.99. This trade represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas G. Kramer sold 9,780 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total transaction of $290,661.60. Following the completion of the sale, the chief financial officer now directly owns 926,114 shares of the company’s stock, valued at approximately $27,524,108.08. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,223 shares of company stock worth $1,314,652. 11.60% of the stock is owned by insiders.

About IonQ

IonQ, Inc engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft’s Azure Quantum, and Google’s Cloud Marketplace, as well as through its cloud service.