Anson Funds Management LP Purchases New Position in Quantum Computing Inc. (NASDAQ:QUBT)

Anson Funds Management LP bought a new stake in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,230,000 shares of the company's stock, valued at approximately $70,006,000. Quantum Computing makes up approximately 7.1% of Anson Funds Management LP's investment portfolio, making the stock its 3rd largest position. Anson Funds Management LP owned about 3.08% of Quantum Computing as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Quantum Computing by 83.6% in the fourth quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company's stock worth $69,290,000 after acquiring an additional 1,906,749 shares during the period. Rockefeller Capital Management L.P. bought a new stake in shares of Quantum Computing in the 4th quarter valued at about $13,953,000. CIBC Private Wealth Group LLC bought a new position in shares of Quantum Computing during the fourth quarter valued at approximately $11,750,000. UNICOM Systems Inc. bought a new position in shares of Quantum Computing during the fourth quarter valued at approximately $5,707,000. Finally, Mission Wealth Management LP purchased a new position in Quantum Computing during the fourth quarter valued at approximately $1,986,000. 4.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Quantum Computing

In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 24,051,256 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through this link. 31.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Quantum Computing Stock Down 3.4 %

Shares of NASDAQ:QUBT traded down $0.25 during trading on Tuesday, hitting $7.08. The stock had a trading volume of 6,569,851 shares, 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 stock has a market capitalization of $971.69 million, a price-to-earnings ratio of -24.41 and a beta of 3.74. The stock has a 50-day simple moving average of $6.81 and a two-hundred day simple moving average of $7.84.

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