Stifel Financial Corp Takes $679,000 Position in Quantum Computing Inc. (NASDAQ:QUBT)

Stifel Financial Corp bought a new position in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 41,006 shares of the company's stock, valued at approximately $679,000.

A number of other large investors have also added to or reduced their stakes in the stock. Tower Research Capital LLC TRC purchased a new stake in Quantum Computing during the fourth quarter valued at approximately $30,000. Archer Investment Corp purchased a new position in shares of Quantum Computing in the fourth quarter worth $33,000. IFP Advisors Inc bought a new position in shares of Quantum Computing during the 4th quarter valued at about $33,000. Farther Finance Advisors LLC purchased a new position in Quantum Computing during the 4th quarter valued at approximately $33,000. Finally, Hollencrest Capital Management purchased a new stake in shares of Quantum Computing during the 4th quarter worth approximately $41,000. Institutional investors own 4.26% of the company's stock.

Quantum Computing Trading Up 1.6%

Shares of QUBT stock traded up $0.15 on Thursday, reaching $9.08. 9,406,779 shares of the company's stock were exchanged, compared to its average volume of 17,340,418. The stock has a market capitalization of $1.25 billion, a PE ratio of -31.26 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 company's fifty day simple moving average is $7.19 and its 200 day simple moving average is $8.10.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced 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 firm had revenue of $0.06 million during the quarter, compared to analysts' expectations of $0.20 million. During the same quarter in the prior year, the company posted ($0.09) EPS.

Insiders Place Their Bets

In related news, insider Yuping Huang sold 200,000 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total transaction of $1,696,000.00. Following the transaction, the insider now directly owns 24,051,256 shares in the company, valued at $203,954,650.88. The trade was a 0.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 31.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets lifted their price target on Quantum Computing from $8.50 to $14.00 and gave the stock a "buy" rating in a research report on Monday, April 28th.

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.