Teacher Retirement System of Texas Buys Shares of 17,039 Quantum Computing Inc. (NASDAQ:QUBT)

Teacher Retirement System of Texas bought a new stake in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,039 shares of the company's stock, valued at approximately $136,000.

A number of other hedge funds have also made changes to their positions in the company. KBC Group NV acquired a new stake in shares of Quantum Computing in the first quarter valued at approximately $41,000. Flagship Harbor Advisors LLC increased its holdings in shares of Quantum Computing by 42.5% in the first quarter. Flagship Harbor Advisors LLC now owns 17,100 shares of the company's stock valued at $137,000 after purchasing an additional 5,100 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Quantum Computing by 159.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 33,724 shares of the company's stock valued at $270,000 after purchasing an additional 20,731 shares during the last quarter. Silverleafe Capital Partners LLC acquired a new stake in Quantum Computing during the first quarter worth $226,000. Finally, Focus Financial Network Inc. increased its stake in Quantum Computing by 104.1% during the first quarter. Focus Financial Network Inc. now owns 189,467 shares of the company's stock worth $1,516,000 after acquiring an additional 96,652 shares during the last quarter. Institutional investors and hedge funds own 4.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on QUBT. 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 for the company. Ascendiant Capital Markets increased 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. Finally, Wall Street Zen raised shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

Quantum Computing Stock Down 1.3%

QUBT opened at $19.51 on Monday. Quantum Computing Inc. has a 52 week low of $0.53 and a 52 week high of $27.15. The business has a fifty day simple moving average of $15.79 and a 200-day simple moving average of $10.78. The firm has a market cap of $3.08 billion, a P/E ratio of -40.64 and a beta of 3.96.

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 firm had revenue of $0.04 million for the quarter, compared to analysts' expectations of $0.30 million.

Insider Transactions at Quantum Computing

In related news, insider Yuping Huang sold 500,000 shares of Quantum Computing stock in a transaction on Monday, May 19th. The stock was sold at an average price of $11.70, for a total value of $5,850,000.00. Following the completion of the transaction, the insider directly owned 21,236,906 shares in the company, valued at approximately $248,471,800.20. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Javad Shabani sold 39,973 shares of Quantum Computing stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.66, for a total value of $466,085.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,059,844 shares of company stock valued at $14,685,149. Corporate insiders own 19.30% of the company's 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.

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