Intrua Financial LLC Makes New $385,000 Investment in Quantum Computing Inc. $QUBT

Key Points

• Intrua Financial LLC has acquired 48,105 shares of Quantum Computing Inc. (NASDAQ:QUBT) valued at approximately $385,000 during the first quarter.
• CEO Yuping Huang sold 1,000,000 shares of Quantum Computing stock for approximately $14.41 million, reducing his ownership by 4.49%.
• Quantum Computing's stock has a P/E ratio of -23.37 and is currently trading at $15.89, with a fifty-two week high of $27.15.

Intrua Financial LLC acquired a new stake in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 48,105 shares of the company's stock, valued at approximately $385,000.

Several other institutional investors and hedge funds have also modified their holdings of QUBT. Vanguard Group Inc. boosted its holdings in shares of Quantum Computing by 24.0% in the 1st quarter. Vanguard Group Inc. now owns 5,191,404 shares of the company's stock worth $41,531,000 after acquiring an additional 1,004,675 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Quantum Computing in the 1st quarter worth approximately $7,084,000. Millennium Management LLC boosted its holdings in shares of Quantum Computing by 288.9% in the 1st quarter. Millennium Management LLC now owns 651,455 shares of the company's stock worth $5,212,000 after acquiring an additional 483,940 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Quantum Computing by 67,931.3% in the 4th quarter. Bank of America Corp DE now owns 367,369 shares of the company's stock worth $6,080,000 after acquiring an additional 366,829 shares in the last quarter. Finally, UNICOM Systems Inc. boosted its holdings in shares of Quantum Computing by 90.3% in the 1st quarter. UNICOM Systems Inc. now owns 656,279 shares of the company's stock worth $5,250,000 after acquiring an additional 311,426 shares in the last quarter. 4.26% of the stock is owned by institutional investors and hedge funds.

Quantum Computing Trading Down 5.1%

Shares of NASDAQ QUBT traded down $0.86 during mid-day trading on Tuesday, hitting $15.97. The company had a trading volume of 13,602,849 shares, compared to its average volume of 23,305,287. The company has a market capitalization of $2.55 billion, a PE ratio of -23.58 and a beta of 3.88. The firm has a 50-day simple moving average of $16.32 and a two-hundred day simple moving average of $12.55. Quantum Computing Inc. has a one year low of $0.64 and a one year high of $27.15.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.10 million.

Analyst Ratings Changes

Several research firms have issued reports on QUBT. Cantor Fitzgerald began coverage on Quantum Computing in a report on Wednesday, July 2nd. They set a "neutral" rating and a $15.00 price objective on the stock. Wall Street Zen downgraded Quantum Computing from a "hold" rating to a "strong sell" rating in a report on Saturday, August 16th. Finally, Ascendiant Capital Markets upped their price objective on Quantum Computing from $14.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, June 6th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.50.

Insider Activity at Quantum Computing

In related news, Director Javad Shabani sold 17,474 shares of the firm's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $15.26, for a total value of $266,653.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Pouya Dianat sold 17,175 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $15.53, for a total transaction of $266,727.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,054,649 shares of company stock worth $15,249,381. Insiders own 19.30% of the company's stock.

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.