UNICOM Systems Inc. lifted its stake in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) by 90.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 656,279 shares of the company's stock after acquiring an additional 311,426 shares during the quarter. Quantum Computing accounts for 1.1% of UNICOM Systems Inc.'s portfolio, making the stock its 16th largest holding. UNICOM Systems Inc. owned 0.48% of Quantum Computing worth $5,250,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of QUBT. Charles Schwab Investment Management Inc. bought a new stake in shares of Quantum Computing during the 4th quarter worth $506,000. Victory Capital Management Inc. acquired a new stake in shares of Quantum Computing in the fourth quarter worth $190,000. Raymond James Financial Inc. acquired a new stake in shares of Quantum Computing in the fourth quarter worth $1,924,000. PNC Financial Services Group Inc. acquired a new stake in shares of Quantum Computing in the fourth quarter worth $766,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Quantum Computing in the fourth quarter worth $320,000. 4.26% of the stock is owned by institutional investors.
Insider Transactions at Quantum Computing
In related news, 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 transaction of $2,849,981.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the insider owned 21,236,906 shares of the company's stock, valued at approximately $248,471,800.20. This represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,059,844 shares of company stock valued at $14,685,149 in the last three months. 19.30% of the stock is currently owned by insiders.
Quantum Computing Stock Performance
Shares of NASDAQ:QUBT traded up $1.37 during midday trading on Thursday, hitting $19.77. 25,574,665 shares of the stock were exchanged, compared to its average volume of 23,243,298. Quantum Computing Inc. has a 52-week low of $0.53 and a 52-week high of $27.15. The business's fifty day simple moving average is $15.57 and its two-hundred day simple moving average is $10.86. The company has a market capitalization of $3.12 billion, a PE ratio of -41.19 and a beta of 3.96.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.13 earnings per share (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.
Analyst Upgrades and Downgrades
Several analysts have recently commented on QUBT shares. Ascendiant Capital Markets raised their target price on Quantum Computing from $14.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Cantor Fitzgerald started coverage on Quantum Computing in a research report on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 target price for the company. Finally, Wall Street Zen raised Quantum Computing from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd.
Read Our Latest Research Report on QUBT
Quantum Computing Company Profile
(
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.
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