Cambridge Investment Research Advisors Inc. Increases Position in Quantum Computing Inc. (NASDAQ:QUBT)

Cambridge Investment Research Advisors Inc. boosted its position in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) by 159.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,724 shares of the company's stock after buying an additional 20,731 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Quantum Computing were worth $270,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC bought a new stake in shares of Quantum Computing in the 4th quarter valued at approximately $30,000. Farther Finance Advisors LLC bought a new stake in shares of Quantum Computing in the 4th quarter valued at approximately $33,000. Signaturefd LLC bought a new stake in shares of Quantum Computing in the 4th quarter valued at approximately $43,000. Tucker Asset Management LLC bought a new stake in shares of Quantum Computing in the 4th quarter valued at approximately $50,000. Finally, Comerica Bank bought a new stake in shares of Quantum Computing in the 4th quarter valued at approximately $55,000. 4.26% of the stock is owned by institutional investors.

Insider Transactions at Quantum Computing

In other news, CFO Christopher Boehmler sold 96,679 shares of Quantum Computing stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $15.96, for a total value of $1,542,996.84. Following the transaction, the chief financial officer directly owned 131,060 shares in the company, valued at approximately $2,091,717.60. This trade represents a 42.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Javad Shabani sold 39,973 shares of Quantum Computing stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.66, for a total value of $466,085.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,059,844 shares of company stock valued at $14,685,149. Company insiders own 19.30% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on QUBT. Cantor Fitzgerald began coverage on Quantum Computing in a research note on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 price objective for the company. Ascendiant Capital Markets raised their price target on Quantum Computing from $14.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Finally, Wall Street Zen raised Quantum Computing from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

Quantum Computing Trading Up 4.1%

Shares of QUBT stock traded up $0.73 on Wednesday, reaching $18.40. 21,246,655 shares of the company's stock were exchanged, compared to its average volume of 23,061,943. Quantum Computing Inc. has a 52 week low of $0.53 and a 52 week high of $27.15. The stock has a market capitalization of $2.91 billion, a PE ratio of -38.33 and a beta of 3.96. The company's fifty day simple moving average is $15.12 and its 200 day simple moving average is $10.80.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.18. The firm had revenue of $0.04 million for the quarter, compared to analysts' expectations of $0.30 million.

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.