Corient Private Wealth LP Makes New $1.29 Million Investment in Quantum Computing Inc. $QUBT

Key Points

• Corient Private Wealth LP acquired 132,594 shares of Quantum Computing, valued at approximately $1.29 million, giving it a 0.06% stake. Institutional investors and hedge funds collectively own 4.26% of QUBT.
• Analyst views remain mixed: four analysts rate QUBT a Buy, two rate it Hold, and one rates it Sell. The stock has a consensus rating of Hold and an average price target of $18.67, with individual targets ranging from $10 to $32.
• QUBT shares opened at $8.01, well below their 12-month high of $25.84. In its latest quarter, the company reported a $0.05 per-share loss—worse than expected—while revenue of $5.55 million exceeded estimates.

Corient Private Wealth LP acquired a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 132,594 shares of the company's stock, valued at approximately $1,286,000. Corient Private Wealth LP owned 0.06% of Quantum Computing as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Bank of America Corp DE bought a new stake in Quantum Computing in the 2nd quarter valued at $3,762,000. Jupiter Topco LLC bought a new position in Quantum Computing during the 2nd quarter worth about $852,000. Hsbc Holdings PLC bought a new position in Quantum Computing during the 2nd quarter worth about $395,000. EFG International AG acquired a new stake in shares of Quantum Computing in the 2nd quarter valued at about $48,000. Finally, Legal & General Group Plc acquired a new stake in shares of Quantum Computing in the 2nd quarter valued at about $1,175,000. Institutional investors and hedge funds own 4.26% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on QUBT. Rosenblatt Securities reissued a "buy" rating and issued a $22.00 target price on shares of Quantum Computing in a research report on Monday, June 29th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $10.00 price target on shares of Quantum Computing in a research report on Tuesday, August 11th. Lake Street Capital reaffirmed a "buy" rating on shares of Quantum Computing in a research note on Monday, July 6th. Ascendiant Capital Markets lifted their price objective on shares of Quantum Computing from $30.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, August 26th. Finally, Wall Street Zen lowered shares of Quantum Computing from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $18.67.

Quantum Computing Trading Up 0.6%

Shares of NASDAQ QUBT opened at $8.01 on Friday. Quantum Computing Inc. has a 12 month low of $6.18 and a 12 month high of $25.84. The company has a market cap of $1.81 billion, a price-to-earnings ratio of -114.41 and a beta of 3.78. The stock has a 50-day moving average price of $8.49 and a two-hundred day moving average price of $8.84.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02). The company had revenue of $5.55 million during the quarter, compared to analyst estimates of $5.15 million. On average, sell-side analysts predict that Quantum Computing Inc. will post -0.19 earnings per share for the current year.

About Quantum Computing

Quantum Computing Inc NASDAQ: QUBT is a provider of quantum computing and quantum-inspired algorithm solutions, headquartered in the United States with research and development operations in Europe. Originally incorporated as Unigrid Software in 2019, the company rebranded in 2021 to reflect its strategic focus on commercializing emerging quantum technologies for enterprise and government customers.

The company's flagship product, Qatalyst, is a quantum-inspired optimization platform that applies advanced heuristic solvers to address complex combinatorial problems in logistics, supply chain management, finance and other data-intensive fields.

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