Hussman Strategic Advisors Inc. Buys Shares of 105,000 Quantum Computing Inc. (NASDAQ:QUBT)

Hussman Strategic Advisors Inc. purchased a new stake in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 105,000 shares of the company's stock, valued at approximately $840,000. Hussman Strategic Advisors Inc. owned approximately 0.08% of Quantum Computing as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in QUBT. Hollencrest Capital Management increased its position in Quantum Computing by 60.0% during the 1st quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock worth $32,000 after purchasing an additional 1,500 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Quantum Computing by 1,896.4% in the 1st 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 period. SBI Securities Co. Ltd. grew its holdings in Quantum Computing by 22.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 118,276 shares of the company's stock valued at $946,000 after buying an additional 21,478 shares during the period. UNICOM Systems Inc. grew its holdings in Quantum Computing by 90.3% in the 1st 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 period. Finally, CWM LLC grew its holdings in Quantum Computing by 192.4% in the 1st quarter. CWM LLC now owns 10,314 shares of the company's stock valued at $83,000 after buying an additional 6,787 shares during the period. Hedge funds and other institutional investors own 4.26% of the company's stock.

Insiders Place Their Bets

In related news, Director Javad Shabani sold 39,973 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $11.66, for a total transaction of $466,085.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Yuping Huang sold 500,000 shares of the stock in a transaction on 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 completion of the transaction, the insider owned 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. In the last ninety days, insiders sold 1,059,844 shares of company stock worth $14,685,149. 19.30% of the stock is owned by company insiders.

Quantum Computing Stock Down 1.3%

Shares of QUBT traded down $0.26 during trading on Friday, reaching $19.51. The company's stock had a trading volume of 22,024,962 shares, compared to its average volume of 23,419,239. The company has a fifty day moving average of $15.79 and a two-hundred day moving average of $10.84. Quantum Computing Inc. has a twelve month low of $0.53 and a twelve month high of $27.15. The company has a market cap of $3.08 billion, a price-to-earnings ratio of -40.64 and a beta of 3.96.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.18. The firm had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.30 million.

Analyst Upgrades and Downgrades

Several research firms have commented on QUBT. Cantor Fitzgerald started coverage on Quantum Computing in a report on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 price target for the company. Wall Street Zen upgraded Quantum Computing from a "strong sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Ascendiant Capital Markets boosted their target price on Quantum Computing from $14.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, June 6th.

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.