Schonfeld Strategic Advisors LLC Invests $1.09 Million in Quantum Computing Inc. (NASDAQ:QUBT)

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

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Quantum Computing by 83.6% during the fourth quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company's stock valued at $69,290,000 after buying an additional 1,906,749 shares during the period. Rockefeller Capital Management L.P. purchased a new position in shares of Quantum Computing during the fourth quarter valued at about $13,953,000. Geode Capital Management LLC increased its position in shares of Quantum Computing by 11.0% during the fourth quarter. Geode Capital Management LLC now owns 762,588 shares of the company's stock valued at $12,627,000 after buying an additional 75,380 shares during the period. CIBC Private Wealth Group LLC purchased a new position in shares of Quantum Computing during the fourth quarter valued at about $11,750,000. Finally, UNICOM Systems Inc. purchased a new position in shares of Quantum Computing during the fourth quarter valued at about $5,707,000. Hedge funds and other institutional investors own 4.26% of the company's stock.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets upped their price objective 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.

Insiders Place Their Bets

In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of the company's 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 sale, the insider now owns 24,051,256 shares in the company, valued at approximately $203,954,650.88. This represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 31.10% of the company's stock.

Quantum Computing Trading Down 1.9%

QUBT traded down $0.17 during midday trading on Tuesday, reaching $8.93. The company's stock had a trading volume of 6,777,694 shares, compared to its average volume of 17,193,782. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -30.79 and a beta of 3.74. Quantum Computing Inc. has a 1 year low of $0.35 and a 1 year high of $27.15. The stock's 50-day moving average is $7.03 and its 200-day moving average is $8.09.

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

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.