Janney Montgomery Scott LLC acquired a new stake in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 47,517 shares of the company's stock, valued at approximately $786,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QUBT. Virtu Financial LLC lifted its stake in shares of Quantum Computing by 377.7% during the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock worth $40,000 after purchasing an additional 47,880 shares during the period. XTX Topco Ltd purchased a new position in Quantum Computing during the third quarter worth about $46,000. Sovereign Financial Group Inc. acquired a new stake in Quantum Computing in the 4th quarter worth about $209,000. Diversify Wealth Management LLC purchased a new stake in Quantum Computing in the 4th quarter valued at about $331,000. Finally, Geode Capital Management LLC increased its stake in shares of Quantum Computing by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company's stock valued at $449,000 after acquiring an additional 65,486 shares during the last quarter. Hedge funds and other institutional investors own 4.26% of the company's stock.
Quantum Computing Stock Down 6.1 %
Shares of NASDAQ QUBT traded down $0.57 during trading on Monday, hitting $8.71. 14,762,155 shares of the company traded hands, compared to its average volume of 33,970,887. The firm has a market capitalization of $1.19 billion, a P/E ratio of -30.03 and a beta of 2.75. The company has a 50-day moving average price of $12.00 and a 200-day moving average price of $5.15. Quantum Computing Inc. has a 1 year low of $0.35 and a 1 year high of $27.15.
Wall Street Analyst Weigh In
Separately, Ascendiant Capital Markets raised their target price on shares of Quantum Computing from $8.25 to $8.50 and gave the stock a "buy" rating in a research report on Wednesday, November 13th.
Read Our Latest Stock Report on QUBT
Quantum Computing Profile
(
Free Report)
Quantum Computing Inc, an integrated photonics company, offers accessible and affordable quantum machines. The company offers Dirac systems are portable, low power, and room temperature qubit and qudit entropy quantum computers (EQC); reservoir computing; remote sensing; and single photon imaging. It also provides Quantum random number generator (uQRNG), a portable device that provides genuine random numbers directly from quantum processes; and quantum authentication which eliminates vulnerabilities inherent in classical cryptographic schemes by offering a comprehensive entanglement-based quantum cyber solution that seamlessly integrates into existing telecom fiber and communication infrastructure.
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