Quantum Computing Inc. $QUBT Shares Bought by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Quantum Computing Inc. by 66.4%, owning a total of 50,878 shares worth approximately $407,000 after the purchase.
• In the first quarter, various institutional investors added to their stakes, with Hollencrest Capital Management boosting their position by 60.0% to 4,000 shares valued at $32,000.
• Analysts have varying ratings on Quantum Computing, with Wall Street Zen downgrading it to a "strong sell" while Ascendiant Capital Markets set a new price target of $22.00 and a "buy" rating.

Charles Schwab Investment Management Inc. grew its position in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) by 66.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,878 shares of the company's stock after purchasing an additional 20,305 shares during the quarter. Charles Schwab Investment Management Inc.'s holdings in Quantum Computing were worth $407,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Quantum Computing by 24.0% in the first quarter. Vanguard Group Inc. now owns 5,191,404 shares of the company's stock worth $41,531,000 after purchasing an additional 1,004,675 shares during the last quarter. UNICOM Systems Inc. grew its holdings in shares of Quantum Computing by 90.3% during the first quarter. UNICOM Systems Inc. now owns 656,279 shares of the company's stock valued at $5,250,000 after buying an additional 311,426 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Quantum Computing by 67,931.3% during the fourth quarter. Bank of America Corp DE now owns 367,369 shares of the company's stock valued at $6,080,000 after buying an additional 366,829 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Quantum Computing by 218.2% during the first quarter. LPL Financial LLC now owns 235,628 shares of the company's stock valued at $1,885,000 after buying an additional 161,582 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Quantum Computing by 1,896.4% during the first quarter. Victory Capital Management Inc. now owns 228,912 shares of the company's stock valued at $1,831,000 after buying an additional 217,446 shares during the last quarter. 4.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Quantum Computing

In related news, CRO Pouya Dianat sold 17,175 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $15.53, for a total transaction of $266,727.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yuping Huang sold 1,000,000 shares of the company's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $14.41, for a total transaction of $14,410,000.00. Following the transaction, the chief executive officer owned 21,287,718 shares of the company's stock, valued at approximately $306,756,016.38. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,537,046 shares of company stock worth $23,045,791 in the last quarter. Company insiders own 19.30% of the company's stock.

Quantum Computing Trading Up 2.4%

Shares of Quantum Computing stock traded up $0.35 during trading hours on Friday, reaching $15.11. The stock had a trading volume of 13,646,347 shares, compared to its average volume of 14,785,558. Quantum Computing Inc. has a twelve month low of $0.58 and a twelve month high of $27.15. The stock's 50 day moving average is $16.79 and its 200 day moving average is $12.15. The firm has a market capitalization of $2.42 billion, a PE ratio of -22.22 and a beta of 3.88.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on QUBT shares. Wall Street Zen lowered shares of Quantum Computing from a "hold" rating to a "strong sell" rating in a report on Saturday, August 16th. Cantor Fitzgerald initiated coverage on shares of Quantum Computing in a report on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 price target on the stock. Finally, Ascendiant Capital Markets upped their price target on shares of Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a report on Friday, June 6th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Quantum Computing has a consensus rating of "Moderate Buy" and a consensus price target of $18.50.

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.