SG Americas Securities LLC Raises Holdings in Quantum Computing Inc. (NASDAQ:QUBT)

SG Americas Securities LLC boosted its position in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) by 65.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,430 shares of the company's stock after purchasing an additional 24,621 shares during the quarter. SG Americas Securities LLC's holdings in Quantum Computing were worth $499,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $30,000. Farther Finance Advisors LLC acquired a new position in Quantum Computing during the fourth quarter worth $33,000. IFP Advisors Inc acquired a new position in Quantum Computing during the fourth quarter worth $33,000. Hollencrest Capital Management purchased a new stake in Quantum Computing in the 4th quarter valued at $41,000. Finally, Signaturefd LLC acquired a new stake in shares of Quantum Computing in the 4th quarter worth $43,000. Hedge funds and other institutional investors own 4.26% of the company's stock.

Insiders Place Their Bets

In other Quantum Computing news, Director Javad Shabani sold 39,973 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $11.66, for a total value of $466,085.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher Boehmler sold 46,440 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $20.00, for a total transaction of $928,800.00. Following the completion of the transaction, the chief financial officer now owns 351,152 shares of the company's stock, valued at $7,023,040. This trade represents a 11.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,259,844 shares of company stock valued at $16,381,149. Corporate insiders own 19.30% of the company's stock.

Quantum Computing Stock Performance

Shares of NASDAQ QUBT opened at $18.88 on Monday. The stock's 50-day simple moving average is $11.08 and its 200-day simple moving average is $10.18. The firm has a market capitalization of $2.66 billion, a PE ratio of -39.33 and a beta of 3.85. Quantum Computing Inc. has a fifty-two week low of $0.35 and a fifty-two week high of $27.15.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Ascendiant Capital Markets lifted their target price on shares of Quantum Computing from $14.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Wall Street Zen upgraded Quantum Computing from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.