Wells Fargo & Company MN bought 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 disclosure with the SEC. The fund bought 22,029 shares of the company’s stock, valued at approximately $365,000.
Other large investors also recently made changes to their positions in the company. IFP Advisors Inc purchased a new stake in Quantum Computing in the 4th quarter worth approximately $33,000. Farther Finance Advisors LLC acquired a new position in shares of Quantum Computing in the fourth quarter worth $33,000. Archer Investment Corp purchased a new stake in shares of Quantum Computing during the fourth quarter worth $33,000. Hollencrest Capital Management acquired a new stake in Quantum Computing during the fourth quarter valued at $41,000. Finally, Signaturefd LLC purchased a new position in Quantum Computing in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 4.26% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Ascendiant Capital Markets lifted their price target on Quantum Computing from $8.50 to $14.00 and gave the company a “buy” rating in a report on Monday, April 28th.
Get Our Latest Research Report on QUBT
Insider Buying and Selling at Quantum Computing
In related news, insider Yuping Huang sold 200,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $8.48, for a total transaction 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 approximately $203,954,650.88. This represents a 0.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 31.10% of the company’s stock.
Quantum Computing Trading Down 8.5 %
Quantum Computing stock opened at $7.33 on Tuesday. Quantum Computing Inc. has a 1-year low of $0.35 and a 1-year high of $27.15. The firm’s fifty day simple moving average is $6.79 and its 200-day simple moving average is $7.85. The company has a market capitalization of $1.01 billion, a P/E ratio of -25.28 and a beta of 3.74.
Quantum Computing (NASDAQ:QUBT – Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.42). The firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.20 million. During the same quarter last year, the company posted ($0.09) earnings per share.
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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