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

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

A number of other institutional investors also recently made changes to their positions in QUBT. Tower Research Capital LLC TRC acquired a new stake in Quantum Computing during the fourth quarter valued at approximately $30,000. IFP Advisors Inc acquired a new stake in Quantum Computing during the fourth quarter valued at approximately $33,000. Farther Finance Advisors LLC acquired a new stake in Quantum Computing during the fourth quarter valued at approximately $33,000. Hollencrest Capital Management acquired a new stake in Quantum Computing during the fourth quarter valued at approximately $41,000. Finally, Signaturefd LLC acquired a new stake in Quantum Computing during the fourth quarter valued at approximately $43,000. 4.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wall Street Zen raised shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Ascendiant Capital Markets boosted 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.

Insider Buying and Selling at Quantum Computing

In other Quantum Computing news, CFO Christopher Boehmler sold 92,271 shares of the company's stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 227,739 shares in the company, valued at approximately $3,416,085. This represents a 28.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Yuping Huang sold 500,000 shares of the company's stock in a transaction that occurred on 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 transaction, the insider now owns 21,236,906 shares in the company, valued at approximately $248,471,800.20. This represents a 2.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,213,404 shares of company stock worth $15,452,349. 19.30% of the stock is currently owned by company insiders.

Quantum Computing Stock Down 4.7%

Shares of QUBT stock traded down $0.83 during trading hours on Friday, reaching $16.68. 21,413,597 shares of the stock traded hands, compared to its average volume of 20,975,738. Quantum Computing Inc. has a 1-year low of $0.35 and a 1-year high of $27.15. The business has a fifty day moving average price of $9.79 and a 200 day moving average price of $9.73. The firm has a market capitalization of $2.35 billion, a PE ratio of -57.52 and a beta of 3.85.

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

About Quantum Computing

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.