Toronto Dominion Bank Buys Shares of 212,000 Quantum Computing Inc. (NASDAQ:QUBT)

Toronto Dominion Bank purchased a new position in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 212,000 shares of the company's stock, valued at approximately $3,509,000. Toronto Dominion Bank owned 0.15% of Quantum Computing as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC bought a new position in shares of Quantum Computing in the fourth quarter worth $30,000. IFP Advisors Inc bought a new position in shares of Quantum Computing in the fourth quarter worth $33,000. Farther Finance Advisors LLC bought a new position in shares of Quantum Computing in the fourth quarter worth $33,000. Archer Investment Corp bought a new position in shares of Quantum Computing in the fourth quarter worth $33,000. Finally, Hollencrest Capital Management bought a new position in shares of Quantum Computing in the fourth quarter worth $41,000. Institutional investors own 4.26% of the company's stock.

Insider Activity at Quantum Computing

In related news, insider Yuping Huang sold 500,000 shares of the 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 transaction, the insider now owns 21,236,906 shares of the company's stock, valued at $248,471,800.20. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Javad Shabani sold 39,973 shares of the 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. Insiders have sold a total of 739,973 shares of company stock valued at $8,012,085 over the last 90 days. 19.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on QUBT shares. Ascendiant Capital Markets upped their price target on shares of Quantum Computing from $8.50 to $14.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Wall Street Zen raised shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a report on Thursday.

Quantum Computing Stock Up 14.5%

QUBT opened at $12.07 on Friday. The stock has a market cap of $1.70 billion, a PE ratio of -41.62 and a beta of 3.74. Quantum Computing Inc. has a 52 week low of $0.35 and a 52 week high of $27.15. The business's fifty day simple moving average is $7.84 and its 200 day simple moving average is $8.52.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last released its earnings results on Thursday, March 20th. The company reported ($0.47) EPS for the quarter, missing analysts' consensus estimates 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 previous year, the company posted ($0.09) earnings per share.

Quantum Computing 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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