Nisa Investment Advisors LLC Sells 1,940 Shares of IonQ, Inc. (NYSE:IONQ)

Nisa Investment Advisors LLC cut its stake in IonQ, Inc. (NYSE:IONQ) by 48.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,098 shares of the company’s stock after selling 1,940 shares during the period. Nisa Investment Advisors LLC’s holdings in IonQ were worth $26,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of IONQ. FNY Investment Advisers LLC increased its holdings in shares of IonQ by 28.0% in the fourth quarter. FNY Investment Advisers LLC now owns 4,532 shares of the company’s stock valued at $56,000 after purchasing an additional 990 shares in the last quarter. C M Bidwell & Associates Ltd. boosted its position in IonQ by 61.2% in the 3rd quarter. C M Bidwell & Associates Ltd. now owns 4,542 shares of the company’s stock valued at $68,000 after buying an additional 1,724 shares during the last quarter. National Bank of Canada FI increased its stake in shares of IonQ by 806.4% in the 3rd quarter. National Bank of Canada FI now owns 6,345 shares of the company’s stock valued at $93,000 after buying an additional 5,645 shares during the period. Daymark Wealth Partners LLC bought a new stake in shares of IonQ during the fourth quarter worth $149,000. Finally, Aurora Private Wealth Inc. acquired a new position in shares of IonQ during the third quarter valued at $151,000. 41.42% of the stock is currently owned by institutional investors and hedge funds.

IonQ Price Performance

Shares of NYSE:IONQ opened at $7.50 on Tuesday. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -9.62 and a beta of 2.14. The firm’s 50 day simple moving average is $9.57 and its 200 day simple moving average is $11.33. IonQ, Inc. has a fifty-two week low of $5.29 and a fifty-two week high of $21.60.

IonQ (NYSE:IONQ) last posted its earnings results on Wednesday, February 28th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. IonQ had a negative return on equity of 28.27% and a negative net margin of 715.77%. The firm had revenue of $6.11 million during the quarter, compared to analysts’ expectations of $5.70 million. Equities research analysts expect that IonQ, Inc. will post -1.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on IONQ. The Goldman Sachs Group lowered their price objective on IonQ from $13.00 to $11.50 and set a “neutral” rating for the company in a research report on Thursday, February 29th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of IonQ in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Insiders Place Their Bets

In other news, CFO Thomas G. Kramer sold 19,672 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $10.20, for a total transaction of $200,654.40. Following the completion of the sale, the chief financial officer now owns 954,224 shares of the company’s stock, valued at $9,733,084.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Thomas G. Kramer sold 19,672 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.20, for a total value of $200,654.40. Following the sale, the chief financial officer now directly owns 954,224 shares in the company, valued at $9,733,084.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Peter Hume Chapman sold 29,452 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $10.20, for a total value of $300,410.40. Following the transaction, the chief executive officer now owns 451,233 shares of the company’s stock, valued at $4,602,576.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,556 shares of company stock worth $882,871. Company insiders own 13.00% of the company’s stock.

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.