MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 884,860 shares of the company's stock, valued at approximately $7,084,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.64% of Quantum Computing at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in shares of Quantum Computing in the 4th quarter valued at $30,000. Comerica Bank acquired a new stake in shares of Quantum Computing in the 4th quarter valued at $55,000. Rhumbline Advisers acquired a new stake in shares of Quantum Computing in the 1st quarter valued at $28,000. Hollencrest Capital Management lifted its stake in shares of Quantum Computing by 60.0% in the 1st quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock valued at $32,000 after purchasing an additional 1,500 shares during the last quarter. Finally, KBC Group NV acquired a new position in Quantum Computing during the 1st quarter worth $41,000. Institutional investors and hedge funds own 4.26% of the company's stock.
Analyst Ratings Changes
QUBT has been the subject of a number of research analyst reports. Ascendiant Capital Markets boosted their target price on shares of Quantum Computing from $14.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Wall Street Zen cut shares of Quantum Computing from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 16th. Finally, Cantor Fitzgerald began coverage on shares of Quantum Computing in a research note on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 target price on the stock. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $18.50.
Check Out Our Latest Analysis on Quantum Computing
Insiders Place Their Bets
In other news, CEO Yuping Huang sold 1,000,000 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $14.41, for a total transaction of $14,410,000.00. Following the completion of the sale, the chief executive officer owned 21,287,718 shares of the company's stock, valued at $306,756,016.38. This represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CRO Pouya Dianat sold 17,175 shares of the stock in a transaction 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 three months, insiders have sold 1,054,649 shares of company stock worth $15,249,381. Company insiders own 19.30% of the company's stock.
Quantum Computing Price Performance
Shares of NASDAQ QUBT opened at $15.41 on Thursday. The company's 50 day simple moving average is $16.56 and its 200 day simple moving average is $12.26. Quantum Computing Inc. has a fifty-two week low of $0.60 and a fifty-two week high of $27.15. The firm has a market capitalization of $2.46 billion, a P/E ratio of -22.66 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, hitting 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.
About Quantum Computing
(
Free Report)
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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