Stifel Financial Corp Purchases Shares of 41,006 Quantum Computing Inc. (NASDAQ:QUBT)

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

Other institutional investors and hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new stake in Quantum Computing during the 4th quarter valued at approximately $30,000. IFP Advisors Inc acquired a new position in Quantum Computing in the fourth quarter valued at $33,000. Farther Finance Advisors LLC bought a new stake in Quantum Computing during the fourth quarter valued at $33,000. Archer Investment Corp acquired a new stake in Quantum Computing during the 4th quarter worth about $33,000. Finally, Hollencrest Capital Management acquired a new stake in Quantum Computing during the fourth quarter worth approximately $41,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

Quantum Computing Trading Up 1.8 %

Shares of QUBT stock opened at $8.59 on Friday. The firm has a market capitalization of $1.18 billion, a PE ratio of -29.62 and a beta of 3.74. The firm has a fifty day simple moving average of $6.96 and a two-hundred day simple moving average of $7.99. Quantum Computing Inc. has a 12 month low of $0.35 and a 12 month high of $27.15.

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 (EPS) for the quarter, missing analysts' consensus estimates 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 prior year, the business earned ($0.09) EPS.

Analysts Set New Price Targets

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

Insider Activity at Quantum Computing

In other 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 $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 SEC, which is available at this hyperlink. 31.10% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding QUBT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Quantum Computing Inc. (NASDAQ:QUBT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.