Ameritas Advisory Services LLC Purchases Shares of 11,861 Quantum Computing Inc. $QUBT

Ameritas Advisory Services LLC purchased a new stake in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,861 shares of the company's stock, valued at approximately $227,000.

A number of other hedge funds have also recently bought and sold shares of QUBT. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Quantum Computing in the 2nd quarter valued at $29,000. Compagnie Lombard Odier SCmA raised its stake in shares of Quantum Computing by 53.5% in the 2nd quarter. Compagnie Lombard Odier SCmA now owns 2,870 shares of the company's stock valued at $55,000 after buying an additional 1,000 shares in the last quarter. Rhumbline Advisers acquired a new position in shares of Quantum Computing in the 1st quarter valued at $28,000. Hollencrest Capital Management raised its stake in shares of Quantum Computing by 60.0% in the 1st quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock valued at $32,000 after buying an additional 1,500 shares in the last quarter. Finally, KBC Group NV acquired a new position in shares of Quantum Computing in the 1st quarter valued at $41,000. 4.26% of the stock is owned by institutional investors.

Insider Activity

In other Quantum Computing news, CEO Yuping Huang sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $14.41, for a total transaction of $14,410,000.00. Following the completion of the sale, the chief executive officer owned 21,287,718 shares of the company's stock, valued at approximately $306,756,016.38. This represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert B. Fagenson sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $16.88, for a total transaction of $84,400.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,154,649 shares of company stock worth $16,805,481. 19.30% of the stock is owned by company insiders.

Quantum Computing Stock Down 0.7%

NASDAQ QUBT opened at $22.01 on Wednesday. Quantum Computing Inc. has a 12-month low of $0.65 and a 12-month high of $27.15. The company has a market capitalization of $4.11 billion, a PE ratio of -32.37 and a beta of 3.85. The firm's 50 day moving average is $17.09 and its 200-day moving average is $14.07.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.10 million.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on QUBT. Lake Street Capital assumed coverage on shares of Quantum Computing in a research report on Thursday, September 18th. They set a "buy" rating and a $24.00 target price for the company. Ascendiant Capital Markets raised their target price on shares of Quantum Computing from $22.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, October 3rd. Wall Street Zen lowered shares of Quantum Computing from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 16th. Cantor Fitzgerald began coverage on shares of Quantum Computing in a research note on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 target price on the stock. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Quantum Computing in a research note on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $26.33.

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.

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