Cetera Investment Advisers Buys Shares of 35,258 Quantum Computing Inc. (NASDAQ:QUBT)

Cetera Investment Advisers purchased a new position in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 35,258 shares of the company's stock, valued at approximately $584,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Quantum Computing during the 4th quarter worth about $626,000. Janney Montgomery Scott LLC purchased a new stake in Quantum Computing during the 4th quarter valued at approximately $786,000. Flagship Harbor Advisors LLC purchased a new stake in Quantum Computing during the 4th quarter valued at approximately $199,000. Heck Capital Advisors LLC purchased a new position in Quantum Computing in the 4th quarter valued at approximately $1,255,000. Finally, Archer Investment Corp acquired a new stake in shares of Quantum Computing during the fourth quarter worth $33,000. Hedge funds and other institutional investors own 4.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on QUBT. Wall Street Zen raised Quantum Computing from a "strong sell" rating to a "hold" rating in a report on Thursday, May 22nd. Ascendiant Capital Markets increased their target price on shares of Quantum Computing from $8.50 to $14.00 and gave the stock a "buy" rating in a research report on Monday, April 28th.

Quantum Computing Stock Performance

QUBT traded down $0.31 on Friday, reaching $12.12. The company had a trading volume of 7,692,263 shares, compared to its average volume of 19,155,074. The stock has a market cap of $1.71 billion, a P/E ratio of -41.33 and a beta of 3.74. Quantum Computing Inc. has a fifty-two week low of $0.35 and a fifty-two week high of $27.15. The company's fifty day moving average is $8.33 and its 200 day moving average is $8.92.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $0.20 million. During the same quarter last year, the business earned ($0.09) earnings per share.

Insider Activity

In related news, Director Javad Shabani sold 39,973 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $11.66, for a total transaction of $466,085.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Yuping Huang sold 500,000 shares of Quantum Computing stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $11.70, for a total transaction of $5,850,000.00. Following the completion of the sale, the insider now owns 21,236,906 shares in the company, valued at approximately $248,471,800.20. This trade represents a 2.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 739,973 shares of company stock valued at $8,012,085 in the last 90 days. 19.30% of the stock is currently owned by insiders.

Quantum Computing Company 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.