Alyeska Investment Group L.P. Takes Position in Quantum Computing Inc. (NASDAQ:QUBT)

Alyeska Investment Group L.P. purchased a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,230,000 shares of the company's stock, valued at approximately $69,613,000. Alyeska Investment Group L.P. owned approximately 3.08% of Quantum Computing as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently made changes to their positions in the stock. Tower Research Capital LLC TRC purchased a new stake in Quantum Computing during the fourth quarter valued at about $30,000. IFP Advisors Inc acquired a new position in Quantum Computing during the fourth quarter worth $33,000. Farther Finance Advisors LLC acquired a new position in Quantum Computing during the fourth quarter valued at approximately $33,000. Archer Investment Corp acquired a new position in Quantum Computing during the 4th quarter worth $33,000. Finally, Hollencrest Capital Management bought a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $41,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Quantum Computing

In related news, insider Yuping Huang sold 200,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total value of $1,696,000.00. Following the transaction, the insider now owns 24,051,256 shares of the company's stock, valued at $203,954,650.88. This represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 31.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets raised their price objective on shares of Quantum Computing from $8.50 to $14.00 and gave the stock a "buy" rating in a report on Monday, April 28th.

Quantum Computing Trading Up 17.5 %

Shares of NASDAQ:QUBT traded up $1.24 on Thursday, hitting $8.32. The company had a trading volume of 19,460,290 shares, compared to its average volume of 17,012,057. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -28.69 and a beta of 3.74. The stock has a 50 day moving average price of $6.83 and a 200 day moving average price of $7.84. Quantum Computing Inc. has a 1-year low of $0.35 and a 1-year high of $27.15.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its earnings results on Thursday, March 20th. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.42). The business had revenue of $0.06 million during the quarter, compared to analysts' expectations of $0.20 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share.

Quantum Computing Profile

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.