Focus Financial Network Inc. Purchases 96,652 Shares of Quantum Computing Inc. (NASDAQ:QUBT)

Focus Financial Network Inc. increased its holdings in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) by 104.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 189,467 shares of the company's stock after acquiring an additional 96,652 shares during the quarter. Focus Financial Network Inc. owned about 0.14% of Quantum Computing worth $1,516,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of QUBT. SBI Securities Co. Ltd. acquired a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $1,602,000. Raymond James Financial Inc. acquired a new position in Quantum Computing in the 4th quarter valued at $1,924,000. Farther Finance Advisors LLC acquired a new position in Quantum Computing in the 4th quarter valued at $33,000. Heck Capital Advisors LLC bought a new stake in shares of Quantum Computing during the 4th quarter valued at $1,255,000. Finally, Stifel Financial Corp acquired a new stake in shares of Quantum Computing during the 4th quarter worth $679,000. Institutional investors and hedge funds own 4.26% of the company's stock.

Insider Buying and Selling at Quantum Computing

In related news, CFO Christopher Boehmler sold 92,271 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $15.00, for a total value of $1,384,065.00. Following the sale, the chief financial officer now owns 227,739 shares in the company, valued at $3,416,085. This represents a 28.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 value of $5,850,000.00. Following the transaction, the insider now owns 21,236,906 shares of the company's stock, valued at $248,471,800.20. This trade represents a 2.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,213,404 shares of company stock valued at $15,452,349. Corporate insiders own 19.30% of the company's stock.

Quantum Computing Stock Down 4.7%

Shares of NASDAQ QUBT traded down $0.83 during trading on Friday, reaching $16.68. The company had a trading volume of 21,413,597 shares, compared to its average volume of 20,894,696. The stock has a market cap of $2.35 billion, a P/E ratio of -57.52 and a beta of 3.85. The company's fifty day moving average price is $9.79 and its 200-day moving average price is $9.69. Quantum Computing Inc. has a 12 month low of $0.35 and a 12 month high of $27.15.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its earnings results on Thursday, March 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The company had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.20 million. During the same quarter in the previous year, the firm earned ($0.09) EPS.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on QUBT. Ascendiant Capital Markets upped their target price on Quantum Computing from $14.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Wall Street Zen upgraded Quantum Computing from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

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.