PharVision Advisers LLC acquired a new position in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 21,399 shares of the company's stock, valued at approximately $171,000.
A number of other institutional investors and hedge funds have also modified their holdings of QUBT. Tower Research Capital LLC TRC bought a new position in Quantum Computing during the fourth quarter worth $30,000. Comerica Bank bought a new position in Quantum Computing during the fourth quarter worth $55,000. Rhumbline Advisers bought a new position in Quantum Computing during the first quarter worth $28,000. Hollencrest Capital Management increased its position in Quantum Computing by 60.0% during the first quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock worth $32,000 after acquiring an additional 1,500 shares during the period. Finally, KBC Group NV bought a new position in Quantum Computing during the first quarter worth $41,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.
Quantum Computing Price Performance
Shares of Quantum Computing stock opened at $15.11 on Monday. The firm has a market capitalization of $2.42 billion, a PE ratio of -22.22 and a beta of 3.88. The company's fifty day moving average price is $16.79 and its two-hundred day moving average price is $12.15. Quantum Computing Inc. has a 52-week low of $0.58 and a 52-week high of $27.15.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its quarterly 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 business had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.10 million.
Insider Buying and Selling at Quantum Computing
In other news, CFO Christopher Boehmler sold 46,440 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $20.00, for a total value of $928,800.00. Following the sale, the chief financial officer owned 351,152 shares of the company's stock, valued at approximately $7,023,040. This represents a 11.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Pouya Dianat sold 17,175 shares of the company's stock in a transaction dated 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. Insiders have sold 1,243,789 shares of company stock valued at $18,811,745 in the last 90 days. 19.30% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on QUBT shares. Wall Street Zen lowered shares of Quantum Computing from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 16th. 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. Finally, Cantor Fitzgerald started coverage on shares of Quantum Computing in a research report on Wednesday, July 2nd. They set a "neutral" rating and a $15.00 target price on the stock. 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, Quantum Computing has a consensus rating of "Moderate Buy" and an average price target of $18.50.
View Our Latest Report on Quantum Computing
Quantum Computing Profile
(
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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