Schonfeld Strategic Advisors LLC Acquires New Shares in Quantum Computing Inc. (NASDAQ:QUBT)

Schonfeld Strategic Advisors LLC bought a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 65,842 shares of the company's stock, valued at approximately $1,090,000.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Quantum Computing by 83.6% during the 4th quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company's stock valued at $69,290,000 after acquiring an additional 1,906,749 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in Quantum Computing during the fourth quarter valued at approximately $13,953,000. Geode Capital Management LLC raised its position in shares of Quantum Computing by 11.0% in the fourth quarter. Geode Capital Management LLC now owns 762,588 shares of the company's stock valued at $12,627,000 after purchasing an additional 75,380 shares during the period. CIBC Private Wealth Group LLC acquired a new stake in shares of Quantum Computing in the fourth quarter worth $11,750,000. Finally, UNICOM Systems Inc. bought a new stake in shares of Quantum Computing during the 4th quarter worth $5,707,000. 4.26% of the stock is currently owned by institutional investors.

Quantum Computing Stock Performance

NASDAQ QUBT opened at $7.09 on Thursday. The stock has a market capitalization of $972.52 million, a PE ratio of -24.43 and a beta of 3.74. The stock has a 50-day simple moving average of $6.83 and a 200 day simple moving average of $7.84. Quantum Computing Inc. has a twelve month low of $0.35 and a twelve month high of $27.15.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.20 million. During the same period last year, the company earned ($0.09) earnings per share.

Analysts Set New Price Targets

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 research report on Monday, April 28th.

Insiders Place Their Bets

In related news, insider Yuping Huang sold 200,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were 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 owns 24,051,256 shares in the company, valued at approximately $203,954,650.88. This trade represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 31.10% of the company's stock.

Quantum Computing Company 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.

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