Geode Capital Management LLC Grows Stock Holdings in Quantum Computing Inc. (NASDAQ:QUBT)

Geode Capital Management LLC boosted its stake in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) by 11.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 762,588 shares of the company's stock after purchasing an additional 75,380 shares during the period. Geode Capital Management LLC owned about 0.56% of Quantum Computing worth $12,627,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Archer Investment Corp acquired a new stake in shares of Quantum Computing in the fourth quarter valued at $33,000. IFP Advisors Inc purchased a new position in Quantum Computing during the 4th quarter valued at about $33,000. Farther Finance Advisors LLC acquired a new position in Quantum Computing in the 4th quarter valued at about $33,000. Virtu Financial LLC increased its stake in Quantum Computing by 377.7% during the third quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock worth $40,000 after purchasing an additional 47,880 shares during the period. Finally, Hollencrest Capital Management acquired a new stake in shares of Quantum Computing during the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 4.26% of the company's stock.

Insider Buying and Selling

In other news, insider Yuping Huang sold 200,000 shares of Quantum Computing stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total value of $1,696,000.00. Following the completion of the transaction, the insider now owns 24,051,256 shares in the company, valued at approximately $203,954,650.88. This trade represents a 0.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 31.10% of the stock is currently owned by insiders.

Quantum Computing Price Performance

Shares of NASDAQ QUBT traded down $0.04 during midday trading on Friday, hitting $6.91. The company's stock had a trading volume of 8,742,209 shares, compared to its average volume of 16,704,104. The firm has a market capitalization of $947.68 million, a price-to-earnings ratio of -23.67 and a beta of 3.00. The business's fifty day simple moving average is $6.81 and its two-hundred day simple moving average is $7.44. Quantum Computing Inc. has a 1 year low of $0.35 and a 1 year high of $27.15.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The business had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.20 million. During the same period in the previous year, the company earned ($0.09) earnings per share.

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.