Rollins Financial Advisors LLC Purchases Shares of 26,269 Quantum Computing Inc. $QUBT

Key Points

• Rollins Financial Advisors LLC bought a new QUBT position of 26,269 shares in Q2 valued at about $504,000, while other funds also initiated or increased small stakes and institutional investors own roughly 4.26% of the stock.
• CEO Yuping Huang sold 1,000,000 shares at an average $14.41 on Sept. 4 (≈$14.41M), and insiders have sold 1,154,649 shares (~$16.8M) in the last 90 days, though insiders still hold about 19.3% of the company.
• Analyst coverage is mixed—two Buys, one Hold and one Sell—with a consensus target price of about $26.33 and an average rating of "Hold."

Rollins Financial Advisors LLC purchased a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 26,269 shares of the company's stock, valued at approximately $504,000.

Several other large investors also recently made changes to their positions in the stock. Nisa Investment Advisors LLC bought a new position in shares of Quantum Computing in the second quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Quantum Computing during the second quarter worth $29,000. Compagnie Lombard Odier SCmA lifted its stake in Quantum Computing by 53.5% in the second quarter. Compagnie Lombard Odier SCmA now owns 2,870 shares of the company's stock valued at $55,000 after acquiring an additional 1,000 shares during the last quarter. Rhumbline Advisers bought a new position in shares of Quantum Computing in the 1st quarter valued at about $28,000. Finally, Huntington National Bank grew its position in shares of Quantum Computing by 520.8% in the 2nd quarter. Huntington National Bank now owns 3,576 shares of the company's stock valued at $69,000 after acquiring an additional 3,000 shares during the period. Institutional investors and hedge funds own 4.26% of the company's stock.

Insider Transactions at Quantum Computing

In other news, CEO Yuping Huang sold 1,000,000 shares of Quantum Computing stock in a transaction on Thursday, September 4th. The stock was 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 approximately $306,756,016.38. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Pouya Dianat sold 17,175 shares of the business's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $15.53, for a total transaction of $266,727.75. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,154,649 shares of company stock valued at $16,805,481. 19.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on QUBT shares. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Quantum Computing in a report on Wednesday, October 8th. Lake Street Capital began coverage on Quantum Computing in a research report on Thursday, September 18th. They set a "buy" rating and a $24.00 price target on the stock. Ascendiant Capital Markets raised their price objective on Quantum Computing from $22.00 to $40.00 and gave the company a "buy" rating in a research report on Friday, October 3rd. Finally, Wall Street Zen downgraded Quantum Computing from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 16th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Quantum Computing presently has an average rating of "Hold" and a consensus target price of $26.33.

Quantum Computing Stock Performance

Shares of QUBT opened at $12.86 on Friday. The firm has a market cap of $2.88 billion, a P/E ratio of -18.91 and a beta of 3.82. Quantum Computing Inc. has a 52 week low of $1.24 and a 52 week high of $27.15. The firm's 50-day simple moving average is $17.72 and its 200 day simple moving average is $15.70.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.10 million.

About Quantum Computing

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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