Focus Financial Network Inc. Sells 882,963 Shares of Quantum Computing Inc. $QUBT

Key Points

• Focus Financial Network reduced its Quantum Computing stake by 96.9% in the third quarter, selling 882,963 shares and retaining 28,672 shares valued at approximately $242,000.
• Institutional ownership remains limited at 4.26%, although several investors initiated or increased positions, including NewEdge Advisors, which raised its stake by 89.4%.
• Analyst sentiment is mixed: four analysts rate QUBT a Buy, two rate it Hold, and one rates it Sell. MarketBeat reports a consensus Hold rating and an average price target of $18.67, while the stock recently opened at $6.36 after reporting a quarterly EPS loss that exceeded estimates.

Focus Financial Network Inc. trimmed its holdings in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) by 96.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,672 shares of the company's stock after selling 882,963 shares during the period. Focus Financial Network Inc.'s holdings in Quantum Computing were worth $242,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Tidal Investments LLC bought a new stake in shares of Quantum Computing during the 2nd quarter valued at about $322,000. MCF Advisors LLC bought a new position in Quantum Computing in the second quarter worth about $29,000. WINTON GROUP Ltd bought a new position in Quantum Computing in the second quarter worth about $398,000. Integrated Wealth Concepts LLC acquired a new position in Quantum Computing in the second quarter valued at approximately $69,000. Finally, NewEdge Advisors LLC boosted its stake in Quantum Computing by 89.4% in the second quarter. NewEdge Advisors LLC now owns 20,718 shares of the company's stock valued at $201,000 after acquiring an additional 9,781 shares during the period. 4.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Lake Street Capital reaffirmed a "buy" rating on shares of Quantum Computing in a report on Monday, July 6th. Cantor Fitzgerald reissued a "neutral" rating and issued a $10.00 price target on shares of Quantum Computing in a report on Tuesday, August 11th. Rosenblatt Securities reissued a "buy" rating and issued a $22.00 price target on shares of Quantum Computing in a report on Monday, June 29th. Weiss Ratings restated a "sell (d-)" rating on shares of Quantum Computing in a research report on Monday, September 21st. Finally, Ascendiant Capital Markets upped their price objective on Quantum Computing from $30.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, August 26th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Quantum Computing has a consensus rating of "Hold" and an average target price of $18.67.

Quantum Computing Stock Performance

Shares of QUBT stock opened at $6.36 on Friday. Quantum Computing Inc. has a 1 year low of $6.08 and a 1 year high of $19.11. The stock has a fifty day moving average of $8.19 and a two-hundred day moving average of $8.90. The firm has a market capitalization of $1.44 billion, a PE ratio of -90.84 and a beta of 3.75.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The firm had revenue of $5.55 million during the quarter, compared to the consensus estimate of $5.15 million. Equities research analysts predict that Quantum Computing Inc. will post -0.19 earnings per share for the current fiscal year.

Quantum Computing Company Profile

Quantum Computing, Inc NASDAQ: QUBT, also known as QCi, develops quantum and photonic computing technologies intended to make quantum-based solutions more accessible to commercial, government and research customers. The company focuses on applications involving optimization, machine learning, cybersecurity, artificial intelligence and other complex computational problems.

QCi's offerings have included software tools and quantum-computing systems designed for optimization and related workloads, including its Qatalyst software platform and Dirac photonic quantum computing systems.

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