Algert Global LLC grew its position in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) by 42.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 445,251 shares of the company's stock after buying an additional 131,620 shares during the period. Algert Global LLC owned 0.20% of Quantum Computing worth $4,319,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in QUBT. Vanguard Group Inc. increased its position in shares of Quantum Computing by 38.1% during the 4th quarter. Vanguard Group Inc. now owns 16,841,423 shares of the company's stock worth $172,793,000 after purchasing an additional 4,643,818 shares during the last quarter. SLT Holdings LLC lifted its position in Quantum Computing by 1,028.7% in the fourth quarter. SLT Holdings LLC now owns 169,300 shares of the company's stock valued at $1,737,000 after buying an additional 154,300 shares during the last quarter. Focus Financial Network Inc. boosted its stake in Quantum Computing by 402.6% during the second quarter. Focus Financial Network Inc. now owns 911,635 shares of the company's stock worth $8,843,000 after buying an additional 730,240 shares during the period. Pacific Heights Asset Management LLC boosted its stake in Quantum Computing by 38.5% during the fourth quarter. Pacific Heights Asset Management LLC now owns 900,000 shares of the company's stock worth $9,234,000 after buying an additional 250,000 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Quantum Computing during the second quarter valued at about $3,696,000. Institutional investors and hedge funds own 4.26% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on QUBT shares. Wedbush began coverage on shares of Quantum Computing in a research note on Monday, August 3rd. They issued a "neutral" rating and a $12.00 price target on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $10.00 price objective on shares of Quantum Computing in a research report on Tuesday, August 11th. Ascendiant Capital Markets lifted their target price on shares of Quantum Computing from $30.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday. Lake Street Capital reissued a "buy" rating on shares of Quantum Computing in a research report on Monday, July 6th. Finally, Wall Street Zen cut Quantum Computing from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $18.67.
Get Our Latest Research Report on QUBT
Quantum Computing Stock Performance
NASDAQ QUBT opened at $8.65 on Friday. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -123.55 and a beta of 3.74. The firm has a 50 day simple moving average of $8.72 and a 200-day simple moving average of $8.88. Quantum Computing Inc. has a one year low of $6.18 and a one year high of $25.84.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $5.55 million for the quarter, compared to analysts' expectations of $5.15 million. Equities analysts predict that Quantum Computing Inc. will post -0.18 EPS for the current fiscal year.
Quantum Computing Company Profile
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Free Report)
Quantum Computing Inc NASDAQ: QUBT is a provider of quantum computing and quantum-inspired algorithm solutions, headquartered in the United States with research and development operations in Europe. Originally incorporated as Unigrid Software in 2019, the company rebranded in 2021 to reflect its strategic focus on commercializing emerging quantum technologies for enterprise and government customers.
The company's flagship product, Qatalyst, is a quantum-inspired optimization platform that applies advanced heuristic solvers to address complex combinatorial problems in logistics, supply chain management, finance and other data-intensive fields.
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