Teacher Retirement System of Texas purchased a new position in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 17,039 shares of the company's stock, valued at approximately $136,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Alyeska Investment Group L.P. bought a new position in Quantum Computing in the 4th quarter valued at approximately $69,613,000. Anson Funds Management LP bought a new position in Quantum Computing in the 4th quarter valued at approximately $70,006,000. Vanguard Group Inc. lifted its position in Quantum Computing by 83.6% in the 4th quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company's stock valued at $69,290,000 after acquiring an additional 1,906,749 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in Quantum Computing in the 4th quarter valued at approximately $13,953,000. Finally, CIBC Private Wealth Group LLC bought a new position in Quantum Computing in the 4th quarter valued at approximately $11,750,000. 4.26% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Quantum Computing news, CFO Christopher Boehmler sold 46,440 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $20.00, for a total value of $928,800.00. Following the completion of the sale, the chief financial officer owned 351,152 shares in the company, valued at approximately $7,023,040. This represents a 11.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael C. Turmelle sold 200,986 shares of the 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,059,844 shares of company stock valued at $14,685,149. Company insiders own 19.30% of the company's stock.
Quantum Computing Price Performance
Shares of NASDAQ:QUBT traded down $0.52 during midday trading on Thursday, hitting $16.95. The company had a trading volume of 13,117,316 shares, compared to its average volume of 21,366,724. The company has a market cap of $2.68 billion, a price-to-earnings ratio of -35.31 and a beta of 3.96. Quantum Computing Inc. has a 12-month low of $0.53 and a 12-month high of $27.15. The company has a fifty day moving average of $16.45 and a two-hundred day moving average of $10.87.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $0.30 million.
Wall Street Analyst Weigh In
QUBT has been the topic of several research analyst reports. Cantor Fitzgerald initiated coverage on Quantum Computing in a report on Wednesday, July 2nd. They set a "neutral" rating and a $15.00 price target on the stock. Ascendiant Capital Markets increased their price target on Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, Wall Street Zen raised Quantum Computing from a "strong sell" rating to a "hold" rating in a report on Thursday, May 22nd.
View Our Latest Research Report on QUBT
About Quantum Computing
(
Free Report)
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.
Further Reading
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