Cetera Investment Advisers Makes New $584,000 Investment in Quantum Computing Inc. (NASDAQ:QUBT)

Cetera Investment Advisers purchased a new stake in Quantum Computing Inc. (NASDAQ:QUBT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 35,258 shares of the company’s stock, valued at approximately $584,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC bought a new position in Quantum Computing during the 4th quarter worth about $30,000. Archer Investment Corp acquired a new stake in Quantum Computing during the fourth quarter worth approximately $33,000. IFP Advisors Inc acquired a new stake in Quantum Computing during the fourth quarter worth approximately $33,000. Farther Finance Advisors LLC acquired a new stake in Quantum Computing during the fourth quarter worth approximately $33,000. Finally, Hollencrest Capital Management acquired a new stake in Quantum Computing during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

Insider Buying and Selling at Quantum Computing

In other Quantum Computing news, Director Javad Shabani sold 39,973 shares of the company’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.66, for a total transaction of $466,085.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Yuping Huang sold 500,000 shares of the company’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.70, for a total transaction of $5,850,000.00. Following the sale, the insider now directly owns 21,236,906 shares in the company, valued at $248,471,800.20. This trade represents a 2.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 739,973 shares of company stock valued at $8,012,085. 19.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Ascendiant Capital Markets lifted their price target on shares of Quantum Computing from $8.50 to $14.00 and gave the company a “buy” rating in a research report on Monday, April 28th. Wall Street Zen raised Quantum Computing from a “strong sell” rating to a “hold” rating in a report on Thursday, May 22nd.

Quantum Computing Stock Performance

NASDAQ QUBT opened at $13.31 on Tuesday. Quantum Computing Inc. has a fifty-two week low of $0.35 and a fifty-two week high of $27.15. The stock has a market cap of $1.88 billion, a PE ratio of -45.90 and a beta of 3.74. The firm’s fifty day moving average price is $8.04 and its two-hundred day moving average price is $8.79.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The company had revenue of $0.06 million for the quarter, compared to the consensus estimate 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.