69,451 Shares in Quantum Computing Inc. $QUBT Bought by Jump Financial LLC

Key Points

• Jump Financial LLC has acquired a new stake in Quantum Computing Inc. (NASDAQ:QUBT), purchasing 69,451 shares valued at approximately $556,000 during the 1st quarter.
• Insider sales indicate significant transactions, including Director Michael C. Turmelle selling 200,986 shares for nearly $2.85 million and CFO Christopher Boehmler selling 46,440 shares for $928,800.
• Equities research analysts have set varying price targets for QUBT, with Ascendiant Capital Markets increasing its objective from $14.00 to $22.00, while Wall Street Zen downgraded it to a "strong sell" rating.

Jump Financial LLC purchased a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 69,451 shares of the company's stock, valued at approximately $556,000. Jump Financial LLC owned approximately 0.05% of Quantum Computing as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rhumbline Advisers acquired a new position in Quantum Computing during the 1st quarter worth approximately $28,000. Tower Research Capital LLC TRC acquired a new position in Quantum Computing during the 4th quarter worth approximately $30,000. Hollencrest Capital Management lifted 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 acquiring an additional 1,500 shares in the last quarter. KBC Group NV acquired a new position in Quantum Computing during the 1st quarter worth approximately $41,000. Finally, Comerica Bank acquired a new position in Quantum Computing during the 4th quarter worth approximately $55,000. 4.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Christopher Boehmler sold 46,440 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $20.00, for a total value of $928,800.00. Following the completion of the sale, the chief financial officer directly owned 351,152 shares in the company, valued at approximately $7,023,040. The trade was a 11.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Pouya Dianat sold 17,175 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $15.53, for a total value of $266,727.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 537,046 shares of company stock worth $8,635,791. 19.30% of the stock is currently owned by insiders.

Quantum Computing Stock Up 1.4%

Shares of QUBT traded up $0.21 during trading on Thursday, reaching $14.76. The company's stock had a trading volume of 14,000,227 shares, compared to its average volume of 14,636,146. Quantum Computing Inc. has a twelve month low of $0.58 and a twelve month high of $27.15. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -21.71 and a beta of 3.88. The company has a fifty day moving average of $16.83 and a two-hundred day moving average of $12.04.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on QUBT shares. Wall Street Zen lowered Quantum Computing from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 16th. Cantor Fitzgerald started coverage on Quantum Computing in a research report on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 target price on the stock. Finally, Ascendiant Capital Markets upped their target price on Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, June 6th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Quantum Computing currently has an average rating of "Moderate Buy" and an average target price of $18.50.

Quantum Computing Company Profile

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.