SeaCrest Wealth Management LLC Takes $206,000 Position in Quantum Computing Inc. (NASDAQ:QUBT)

SeaCrest Wealth Management LLC bought a new position in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 25,692 shares of the company's stock, valued at approximately $206,000.

Several other hedge funds have also modified their holdings of QUBT. UNICOM Systems Inc. purchased a new stake in Quantum Computing during the fourth quarter valued at about $5,707,000. SBI Securities Co. Ltd. acquired a new position in shares of Quantum Computing in the 4th quarter valued at about $1,602,000. Raymond James Financial Inc. acquired a new position in shares of Quantum Computing in the 4th quarter valued at about $1,924,000. Farther Finance Advisors LLC purchased a new stake in shares of Quantum Computing during the 4th quarter worth about $33,000. Finally, Heck Capital Advisors LLC acquired a new stake in Quantum Computing during the 4th quarter worth approximately $1,255,000. 4.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Quantum Computing

In other Quantum Computing news, Director Javad Shabani sold 39,973 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $11.66, for a total value of $466,085.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Yuping Huang sold 200,000 shares of the firm's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $8.48, for a total value of $1,696,000.00. Following the sale, the insider now owns 24,051,256 shares of the company's stock, valued at $203,954,650.88. This represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 739,973 shares of company stock valued at $8,012,085 over the last 90 days. 19.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

QUBT has been the topic of a number of recent research reports. Wall Street Zen raised shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Ascendiant Capital Markets increased their price objective on shares of Quantum Computing from $14.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday.

Quantum Computing Price Performance

Shares of QUBT opened at $13.70 on Monday. The stock's 50-day moving average is $8.84 and its two-hundred day moving average is $9.39. The stock has a market cap of $1.93 billion, a PE ratio of -47.24 and a beta of 3.85. Quantum Computing Inc. has a 12 month low of $0.35 and a 12 month high of $27.15.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its earnings results on Thursday, March 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The company had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.20 million. During the same quarter in the prior year, the firm posted ($0.09) EPS.

Quantum Computing Company 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.

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