Intrua Financial LLC Acquires Shares of 48,105 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 purchased a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 48,105 shares of the company's stock, valued at approximately $385,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Tower Research Capital LLC TRC acquired a new stake in Quantum Computing in the 4th quarter valued at approximately $30,000. Northern Trust Corp increased its position in Quantum Computing by 214.1% in the 4th quarter. Northern Trust Corp now owns 144,088 shares of the company's stock valued at $2,385,000 after acquiring an additional 98,221 shares during the period. Comerica Bank bought a new stake in shares of Quantum Computing during the 4th quarter worth $55,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Quantum Computing during the 4th quarter worth $201,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of Quantum Computing during the 4th quarter worth $712,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

Quantum Computing Price Performance

NASDAQ QUBT opened at $15.89 on Friday. Quantum Computing Inc. has a fifty-two week low of $0.64 and a fifty-two week high of $27.15. The stock's 50-day moving average is $16.46 and its two-hundred day moving average is $12.32. The firm has a market cap of $2.54 billion, a P/E ratio of -23.37 and a beta of 3.88.

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

Insider Buying and Selling at Quantum Computing

In other Quantum Computing news, CEO Yuping Huang sold 1,000,000 shares of Quantum Computing stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $14.41, for a total transaction of $14,410,000.00. Following the sale, the chief executive officer directly owned 21,287,718 shares of the company's stock, valued at approximately $306,756,016.38. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Pouya Dianat sold 17,175 shares of the business'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. Over the last ninety days, insiders have sold 1,054,649 shares of company stock valued at $15,249,381. 19.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on QUBT. Cantor Fitzgerald began coverage on Quantum Computing in a research note on Wednesday, July 2nd. They set a "neutral" rating and a $15.00 price objective for the company. Wall Street Zen lowered Quantum Computing from a "hold" rating to a "strong sell" rating in a report on Saturday, August 16th. Finally, Ascendiant Capital Markets increased their target price on Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a report on Friday, June 6th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $18.50.

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.

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