Vanguard Group Inc. Has $172.79 Million Stock Position in Quantum Computing Inc. $QUBT

Key Points

• Vanguard Group increased its Quantum Computing Inc. stake by 38.1% in the fourth quarter, ending with 16.84 million shares valued at about $172.8 million and representing roughly 7.5% of the company.
• Other institutional investors also boosted holdings, but overall institutional ownership remains relatively modest at 4.26% of the stock.
• Analyst sentiment is mixed: the stock has an average Hold rating and a $17.50 price target, while QUBT recently traded at $9.60 after reporting a small quarterly loss that beat EPS expectations but missed revenue estimates.

Vanguard Group Inc. raised its position in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) by 38.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,841,423 shares of the company's stock after purchasing an additional 4,643,818 shares during the period. Vanguard Group Inc. owned approximately 7.51% of Quantum Computing worth $172,793,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in QUBT. Concurrent Investment Advisors LLC grew its stake in shares of Quantum Computing by 16.9% during the fourth quarter. Concurrent Investment Advisors LLC now owns 115,376 shares of the company's stock worth $1,184,000 after buying an additional 16,721 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Quantum Computing by 11.1% during the fourth quarter. Arizona State Retirement System now owns 55,201 shares of the company's stock worth $566,000 after buying an additional 5,503 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Quantum Computing by 21.2% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 16,611 shares of the company's stock worth $170,000 after buying an additional 2,900 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of Quantum Computing by 397.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 39,938 shares of the company's stock worth $410,000 after buying an additional 31,911 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Quantum Computing by 53.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 68,484 shares of the company's stock worth $703,000 after buying an additional 23,752 shares during the last quarter. 4.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on QUBT. Rosenblatt Securities reaffirmed a "buy" rating and set a $22.00 target price on shares of Quantum Computing in a research note on Tuesday, March 3rd. Northland Securities began coverage on shares of Quantum Computing in a research note on Monday, April 20th. They set an "outperform" rating and a $20.00 target price on the stock. Cantor Fitzgerald decreased their target price on shares of Quantum Computing from $15.00 to $10.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Quantum Computing in a research note on Friday, March 27th. Finally, Wall Street Zen cut shares of Quantum Computing from a "hold" rating to a "sell" rating in a research note on Saturday, March 7th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $17.50.

Quantum Computing Price Performance

Shares of Quantum Computing stock opened at $9.60 on Monday. Quantum Computing Inc. has a twelve month low of $6.18 and a twelve month high of $25.84. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -64.00 and a beta of 3.70. The company's fifty day moving average is $7.98 and its 200 day moving average is $10.30.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. The business had revenue of $0.20 million during the quarter, compared to the consensus estimate of $0.39 million. As a group, equities analysts anticipate that Quantum Computing Inc. will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Quantum Computing

In related news, CFO Christopher Bruce Roberts sold 9,360 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $7.85, for a total value of $73,476.00. Following the sale, the chief financial officer owned 1,123,038 shares of the company's stock, valued at $8,815,848.30. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 19.30% of the stock is currently owned by corporate insiders.

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.

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