Tudor Investment Corp ET AL Invests $4.58 Million in Quantum Computing Inc. $QUBT

Key Points

• Tudor Investment Corp initiated a new position in Quantum Computing Inc. (NASDAQ:QUBT) in Q3, acquiring 248,884 shares worth about $4.58 million, while institutional investors collectively own roughly 4.26% of the company.
• CFO Christopher Bruce Roberts sold 68,902 shares on March 10 for about $540,881, and corporate insiders now hold approximately 19.30% of QUBT.
• QUBT has a market cap of $1.52 billion, recently reported an EPS beat (‑$0.01 vs. ‑$0.04 expected) despite a revenue miss, and carries a mixed analyst picture with a consensus "Hold" and an average price target of $17.

Tudor Investment Corp ET AL acquired a new position in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 248,884 shares of the company's stock, valued at approximately $4,582,000. Tudor Investment Corp ET AL owned approximately 0.11% of Quantum Computing at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Triumph Capital Management purchased a new stake in shares of Quantum Computing during the third quarter worth about $45,000. Allworth Financial LP grew its position in shares of Quantum Computing by 91.7% during the third quarter. Allworth Financial LP now owns 4,218 shares of the company's stock worth $78,000 after purchasing an additional 2,018 shares in the last quarter. IFP Advisors Inc purchased a new stake in shares of Quantum Computing during the third quarter worth about $61,000. Polar Asset Management Partners Inc. grew its stake in Quantum Computing by 72.3% during the third quarter. Polar Asset Management Partners Inc. now owns 2,686,727 shares of the company's stock valued at $48,643,000 after acquiring an additional 1,127,427 shares in the last quarter. Finally, Cantor Fitzgerald L. P. purchased a new position in Quantum Computing during the third quarter valued at $705,000. Hedge funds and other institutional investors own 4.26% of the company's stock.

Insider Activity at Quantum Computing

In related news, CFO Christopher Bruce Roberts sold 68,902 shares of Quantum Computing stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $7.85, for a total transaction of $540,880.70. Following the completion of the transaction, the chief financial officer directly owned 1,132,398 shares of the company's stock, valued at approximately $8,889,324.30. The trade was a 5.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 19.30% of the company's stock.

Quantum Computing Stock Performance

Shares of Quantum Computing stock opened at $6.78 on Friday. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of -45.20 and a beta of 3.67. The stock has a 50 day moving average price of $7.83 and a 200-day moving average price of $11.89. Quantum Computing Inc. has a one year low of $5.76 and a one year high of $25.84.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its earnings results on Monday, March 2nd. The company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.03. The company had revenue of $0.20 million during the quarter, compared to analysts' expectations of $0.39 million.

Wall Street Analyst Weigh In

QUBT has been the subject of several research analyst reports. Ascendiant Capital Markets cut their target price on shares of Quantum Computing from $40.00 to $25.00 and set a "buy" rating for the company in a research note on Monday, December 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Quantum Computing in a research note on Friday, March 27th. Wedbush initiated coverage on shares of Quantum Computing in a research note on Wednesday, December 17th. They set a "neutral" rating and a $12.00 target price for the company. Wall Street Zen cut shares of Quantum Computing from a "hold" rating to a "sell" rating in a research note on Saturday, March 7th. Finally, Cantor Fitzgerald cut their price target on Quantum Computing from $15.00 to $10.00 and set a "neutral" rating for the company in a report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Quantum Computing presently has a consensus rating of "Hold" and an average price target of $17.00.

About Quantum Computing

Quantum Computing Inc NASDAQ: QUBT is a provider of quantum computing and quantum-inspired algorithm solutions, headquartered in the United States with research and development operations in Europe. Originally incorporated as Unigrid Software in 2019, the company rebranded in 2021 to reflect its strategic focus on commercializing emerging quantum technologies for enterprise and government customers.

The company's flagship product, Qatalyst, is a quantum-inspired optimization platform that applies advanced heuristic solvers to address complex combinatorial problems in logistics, supply chain management, finance and other data-intensive fields.

Want to see what other hedge funds are holding QUBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quantum Computing Inc. (NASDAQ:QUBT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.