Wealth Enhancement Advisory Services LLC Buys Shares of 10,057 Quantum Computing Inc. (NASDAQ:QUBT)

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Quantum Computing Inc. (NASDAQ:QUBT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,057 shares of the company’s stock, valued at approximately $166,000.

A number of other hedge funds and other institutional investors have also modified their holdings of QUBT. Tower Research Capital LLC TRC bought a new position in shares of Quantum Computing during the 4th quarter valued at $30,000. Farther Finance Advisors LLC bought a new position in shares of Quantum Computing during the 4th quarter valued at $33,000. IFP Advisors Inc bought a new position in shares of Quantum Computing during the 4th quarter valued at $33,000. Hollencrest Capital Management bought a new position in shares of Quantum Computing during the 4th quarter valued at $41,000. Finally, Signaturefd LLC bought a new position in shares of Quantum Computing during the 4th quarter valued at $43,000. Institutional investors own 4.26% of the company’s stock.

Insiders Place Their Bets

In other news, insider Yuping Huang sold 500,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 21,236,906 shares in the company, valued at approximately $248,471,800.20. The trade was a 2.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Christopher Boehmler sold 46,440 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $20.00, for a total transaction of $928,800.00. Following the transaction, the chief financial officer now owns 351,152 shares in the company, valued at approximately $7,023,040. The trade was a 11.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,259,844 shares of company stock valued at $16,381,149 in the last quarter. Insiders own 19.30% of the company’s stock.

Quantum Computing Price Performance

Quantum Computing stock opened at $19.79 on Wednesday. The firm has a market cap of $2.79 billion, a price-to-earnings ratio of -41.23 and a beta of 3.85. Quantum Computing Inc. has a fifty-two week low of $0.35 and a fifty-two week high of $27.15. The firm has a fifty day moving average price of $10.35 and a two-hundred day moving average price of $9.90.

Quantum Computing (NASDAQ:QUBT) last released its earnings results on Thursday, March 20th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.42). The business had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.20 million. During the same period last year, the company posted ($0.09) earnings per share.

Analyst Ratings Changes

QUBT has been the topic of a number of recent research reports. Ascendiant Capital Markets raised their price target on shares of Quantum Computing from $14.00 to $22.00 and gave the company a “buy” rating in a report on Friday, June 6th. Wall Street Zen upgraded shares of Quantum Computing from a “strong sell” rating to a “hold” rating in a report on Thursday, May 22nd.

About Quantum Computing

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.