SBI Securities Co. Ltd. Purchases 21,478 Shares of Quantum Computing Inc. (NASDAQ:QUBT)

SBI Securities Co. Ltd. raised its stake in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) by 22.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,276 shares of the company's stock after purchasing an additional 21,478 shares during the quarter. SBI Securities Co. Ltd. owned about 0.09% of Quantum Computing worth $946,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC acquired a new position in Quantum Computing in the fourth quarter worth about $30,000. Farther Finance Advisors LLC acquired a new stake in Quantum Computing in the fourth quarter worth approximately $33,000. Signaturefd LLC acquired a new stake in Quantum Computing in the fourth quarter worth approximately $43,000. Tucker Asset Management LLC bought a new position in shares of Quantum Computing in the fourth quarter valued at $50,000. Finally, Comerica Bank bought a new position in shares of Quantum Computing in the fourth quarter valued at $55,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on QUBT shares. Cantor Fitzgerald started coverage on shares of Quantum Computing in a research note on Wednesday, July 2nd. They set a "neutral" rating and a $15.00 target price on the stock. Ascendiant Capital Markets boosted 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. Finally, Wall Street Zen raised shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

Quantum Computing Stock Performance

Shares of QUBT traded down $0.26 during trading hours on Friday, reaching $19.51. 22,024,962 shares of the company traded hands, compared to its average volume of 23,328,767. The stock's fifty day moving average is $15.79 and its 200 day moving average is $10.88. The stock has a market cap of $3.08 billion, a P/E ratio of -40.64 and a beta of 3.96. Quantum Computing Inc. has a 1-year low of $0.53 and a 1-year high of $27.15.

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

Insider Activity at Quantum Computing

In other Quantum Computing news, CFO Christopher Boehmler sold 46,440 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $20.00, for a total value of $928,800.00. Following the transaction, the chief financial officer directly owned 351,152 shares of the company's stock, valued at approximately $7,023,040. This trade represents a 11.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael C. Turmelle sold 200,986 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $14.18, for a total transaction of $2,849,981.48. The disclosure for this sale can be found here. Insiders sold 1,059,844 shares of company stock valued at $14,685,149 over the last three months. 19.30% of the stock is owned by company insiders.

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.