Alyeska Investment Group L.P. Invests $69.61 Million in Quantum Computing Inc. (NASDAQ:QUBT)

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

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Tower Research Capital LLC TRC acquired a new stake in shares of Quantum Computing during the 4th quarter worth approximately $30,000. IFP Advisors Inc acquired a new position in shares of Quantum Computing during the fourth quarter valued at $33,000. Farther Finance Advisors LLC acquired a new position in shares of Quantum Computing during the fourth quarter valued at $33,000. Archer Investment Corp acquired a new stake in shares of Quantum Computing in the 4th quarter worth about $33,000. Finally, Hollencrest Capital Management acquired a new position in Quantum Computing during the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 4.26% of the company's stock.

Insider Activity

In other news, insider Yuping Huang sold 200,000 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $8.48, for a total value of $1,696,000.00. Following the completion of the sale, the insider now directly owns 24,051,256 shares in the company, valued at approximately $203,954,650.88. The trade was a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 31.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets lifted their target price on Quantum Computing from $8.50 to $14.00 and gave the company a "buy" rating in a research note on Monday, April 28th.

Quantum Computing Stock Performance

Shares of QUBT stock traded down $0.25 during midday trading on Tuesday, reaching $7.08. 6,569,851 shares of the company were exchanged, compared to its average volume of 16,981,509. Quantum Computing Inc. has a 12 month low of $0.35 and a 12 month high of $27.15. The company has a market cap of $971.69 million, a P/E ratio of -24.41 and a beta of 3.74. The company's 50 day moving average price is $6.81 and its two-hundred day moving average price is $7.84.

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 company had revenue of $0.06 million for the quarter, compared to analysts' expectations of $0.20 million. During the same period last year, the firm earned ($0.09) EPS.

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.