SBI Securities Co. Ltd. Grows Position in Quantum Computing Inc. (NASDAQ:QUBT)

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. UNICOM Systems Inc. boosted its stake in Quantum Computing by 90.3% during the first quarter. UNICOM Systems Inc. now owns 656,279 shares of the company's stock worth $5,250,000 after buying an additional 311,426 shares during the last quarter. CWM LLC boosted its stake in Quantum Computing by 192.4% during the first quarter. CWM LLC now owns 10,314 shares of the company's stock worth $83,000 after buying an additional 6,787 shares during the last quarter. Arizona State Retirement System acquired a new position in Quantum Computing during the first quarter worth $267,000. Stratos Wealth Partners LTD. acquired a new position in Quantum Computing during the first quarter worth $93,000. Finally, Envestnet Asset Management Inc. boosted its stake in Quantum Computing by 35.9% during the first quarter. Envestnet Asset Management Inc. now owns 43,470 shares of the company's stock worth $348,000 after buying an additional 11,489 shares during the last quarter. Institutional investors and hedge funds own 4.26% of the company's stock.

Quantum Computing Stock Down 2.8%

NASDAQ:QUBT traded down $0.56 on Friday, reaching $19.21. The company's stock had a trading volume of 8,027,509 shares, compared to its average volume of 23,185,597. Quantum Computing Inc. has a 12-month low of $0.53 and a 12-month high of $27.15. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of -40.09 and a beta of 3.96. The stock has a 50 day moving average price of $15.57 and a 200 day moving average price of $10.86.

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

Insider Transactions at Quantum Computing

In related news, Director Michael C. Turmelle sold 200,986 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $14.18, for a total value of $2,849,981.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Yuping Huang sold 500,000 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.70, for a total value of $5,850,000.00. Following the completion of the sale, the insider owned 21,236,906 shares in the company, valued at $248,471,800.20. This represents a 2.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,059,844 shares of company stock worth $14,685,149 over the last quarter. 19.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

QUBT has been the topic of a number of research analyst reports. Wall Street Zen upgraded Quantum Computing from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Ascendiant Capital Markets lifted their target price on Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Cantor Fitzgerald initiated coverage on Quantum Computing in a research report on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 target price on the stock.

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.