116,273 Shares in Quantum Computing Inc. (NASDAQ:QUBT) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 116,273 shares of the company's stock, valued at approximately $1,924,000. Raymond James Financial Inc. owned 0.08% of Quantum Computing at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QUBT. UNICOM Systems Inc. bought a new stake in shares of Quantum Computing during the 4th quarter valued at $5,707,000. SBI Securities Co. Ltd. purchased a new position in shares of Quantum Computing in the fourth quarter valued at about $1,602,000. Farther Finance Advisors LLC bought a new position in shares of Quantum Computing in the fourth quarter worth about $33,000. SG Americas Securities LLC purchased a new stake in shares of Quantum Computing during the fourth quarter worth about $626,000. Finally, Virtu Financial LLC lifted its holdings in Quantum Computing by 377.7% in the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock worth $40,000 after purchasing an additional 47,880 shares in the last quarter. Institutional investors own 4.26% of the company's stock.

Quantum Computing Price Performance

Shares of Quantum Computing stock traded up $0.01 during trading on Wednesday, reaching $7.09. 4,029,361 shares of the stock traded hands, compared to its average volume of 16,996,247. The company has a market capitalization of $972.52 million, a price-to-earnings ratio of -24.43 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 has a fifty day simple moving average of $6.83 and a two-hundred day simple moving average of $7.84.

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

Insider Buying and Selling

In other news, insider Yuping Huang sold 200,000 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now directly owns 24,051,256 shares of the company's stock, valued at $203,954,650.88. This trade represents a 0.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 31.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets boosted their target price 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.

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.