Cambridge Investment Research Advisors Inc. Buys 20,731 Shares of Quantum Computing Inc. (NASDAQ:QUBT)

Cambridge Investment Research Advisors Inc. grew its stake in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) by 159.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,724 shares of the company's stock after acquiring 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.

A number of other hedge funds have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in Quantum Computing during the fourth quarter worth $1,924,000. Farther Finance Advisors LLC bought a new stake in Quantum Computing during the fourth quarter valued at about $33,000. Heck Capital Advisors LLC acquired a new position in shares of Quantum Computing during the 4th quarter worth about $1,255,000. Stifel Financial Corp bought a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $679,000. Finally, Ameriprise Financial Inc. acquired a new stake in Quantum Computing during the fourth quarter worth about $712,000. 4.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

QUBT has been the topic of a number of analyst reports. Ascendiant Capital Markets upped their target price on shares of Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Cantor Fitzgerald started coverage on Quantum Computing in a report on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 target price for the company. 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 Price Performance

Shares of NASDAQ:QUBT traded up $1.51 during midday trading on Monday, reaching $18.94. The company's stock had a trading volume of 16,872,260 shares, compared to its average volume of 25,548,789. The business's fifty day simple moving average is $14.67 and its 200-day simple moving average is $10.74. Quantum Computing Inc. has a fifty-two week low of $0.53 and a fifty-two week high of $27.15. The company has a market capitalization of $2.99 billion, a P/E ratio of -39.46 and a beta of 3.96.

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

Insider Activity at Quantum Computing

In related news, insider Yuping Huang sold 500,000 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.70, for a total transaction of $5,850,000.00. Following the sale, the insider directly owned 21,236,906 shares in the company, valued at $248,471,800.20. This trade represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Michael C. Turmelle sold 200,986 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $14.18, for a total value of $2,849,981.48. 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. Corporate insiders own 19.30% of the company's stock.

Quantum Computing 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.