SLT Holdings LLC Invests $262,000 in Quantum Computing Inc. (NASDAQ:QUBT)

Key Points

• SLT Holdings LLC invested approximately $262,000 in Quantum Computing Inc., acquiring 32,750 shares during the first quarter.
• Institutional investors, including Anson Funds Management LP and Vanguard Group Inc., significantly increased their stakes in Quantum Computing, leading to a total institutional ownership of 4.26%.
• Quantum Computing reported earnings per share of $0.13 for the last quarter, exceeding analysts' expectations, despite lower revenue of $0.04 million compared to expectations of $0.30 million.

SLT Holdings LLC acquired a new stake in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,750 shares of the company's stock, valued at approximately $262,000.

Other large investors have also made changes to their positions in the company. Anson Funds Management LP acquired a new stake in shares of Quantum Computing during the 4th quarter worth about $70,006,000. Alyeska Investment Group L.P. purchased a new position in shares of Quantum Computing during the fourth quarter valued at approximately $69,613,000. Vanguard Group Inc. boosted its position in Quantum Computing by 83.6% during the fourth quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company's stock worth $69,290,000 after acquiring an additional 1,906,749 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in Quantum Computing in the 4th quarter valued at $13,953,000. Finally, Geode Capital Management LLC lifted its stake in shares of Quantum Computing by 11.0% during the 4th quarter. Geode Capital Management LLC now owns 762,588 shares of the company's stock worth $12,627,000 after purchasing an additional 75,380 shares during the period. Institutional investors and hedge funds own 4.26% of the company's stock.

Quantum Computing Price Performance

NASDAQ:QUBT opened at $16.15 on Tuesday. Quantum Computing Inc. has a 12 month low of $0.53 and a 12 month high of $27.15. The business's 50-day moving average is $16.61 and its two-hundred day moving average is $10.92. The firm has a market capitalization of $2.55 billion, a PE ratio of -33.65 and a beta of 3.96.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported $0.13 earnings per share 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 Activity at Quantum Computing

In other news, Director Michael C. Turmelle sold 200,986 shares of the business's stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Christopher Boehmler sold 46,440 shares of Quantum Computing stock in a transaction on Thursday, June 12th. The stock was 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 directly owned 351,152 shares of the company's stock, valued at approximately $7,023,040. This represents a 11.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,059,844 shares of company stock worth $14,685,149 over the last three months. 19.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on QUBT. Wall Street Zen upgraded Quantum Computing from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Ascendiant Capital Markets increased their price target 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. Finally, Cantor Fitzgerald assumed coverage on Quantum Computing in a report on Wednesday, July 2nd. They set a "neutral" rating and a $15.00 price objective for the company.

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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