Comerica Bank purchased a new stake in shares of Quantum Computing Inc. (NASDAQ:QUBT – Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 3,350 shares of the company’s stock, valued at approximately $55,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UNICOM Systems Inc. purchased a new position in shares of Quantum Computing during the fourth quarter valued at approximately $5,707,000. SBI Securities Co. Ltd. bought a new position in Quantum Computing in the 4th quarter valued at $1,602,000. Raymond James Financial Inc. bought a new position in Quantum Computing in the 4th quarter valued at $1,924,000. Farther Finance Advisors LLC purchased a new stake in Quantum Computing in the fourth quarter worth $33,000. Finally, Stifel Financial Corp bought a new stake in shares of Quantum Computing during the fourth quarter worth $679,000. 4.26% of the stock is owned by hedge funds and other institutional investors.
Quantum Computing Price Performance
Quantum Computing stock opened at $12.87 on Monday. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -44.38 and a beta of 3.74. The firm has a 50-day moving average of $7.45 and a two-hundred day moving average of $8.33. Quantum Computing Inc. has a 1 year low of $0.35 and a 1 year high of $27.15.
Quantum Computing (NASDAQ:QUBT – Get Free Report) last announced 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 company had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $0.20 million. During the same period last year, the firm earned ($0.09) EPS.
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 company a “buy” rating in a research note on Monday, April 28th.
View Our Latest Analysis on Quantum Computing
Insider Transactions at Quantum Computing
In related 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 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 represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 19.30% of the company’s stock.
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.
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