11,644 Shares in Quantum Computing Inc. (NASDAQ:QUBT) Bought by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. acquired a new stake in shares of Quantum Computing Inc. (NASDAQ:QUBT) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,644 shares of the company’s stock, valued at approximately $93,000.

A number of other institutional investors also recently modified their holdings of QUBT. Alyeska Investment Group L.P. bought a new stake in shares of Quantum Computing during the fourth quarter worth $69,613,000. Anson Funds Management LP acquired a new position in shares of Quantum Computing in the 4th quarter worth approximately $70,006,000. Vanguard Group Inc. increased its position in shares of Quantum Computing by 83.6% during the fourth quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company’s stock worth $69,290,000 after buying an additional 1,906,749 shares during the period. Rockefeller Capital Management L.P. acquired a new position in Quantum Computing in the fourth quarter valued at $13,953,000. Finally, CIBC Private Wealth Group LLC bought a new position in shares of Quantum Computing in the 4th quarter worth about $11,750,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

Analysts Set New Price Targets

QUBT has been the subject of a number of research analyst reports. Wall Street Zen raised Quantum Computing from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Ascendiant Capital Markets raised their target price on Quantum Computing from $14.00 to $22.00 and gave the company a “buy” rating in a report on Friday, June 6th. Finally, Cantor Fitzgerald started coverage on shares of Quantum Computing in a research report on Wednesday, July 2nd. They issued a “neutral” rating and a $15.00 price objective for the company.

Insider Transactions at Quantum Computing

In other Quantum Computing news, Director Michael C. Turmelle sold 200,986 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $14.18, for a total value of $2,849,981.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Javad Shabani sold 39,973 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $11.66, for a total value of $466,085.18. The disclosure for this sale can be found here. Insiders sold 1,059,844 shares of company stock valued at $14,685,149 in the last quarter. Insiders own 19.30% of the company’s stock.

Quantum Computing Price Performance

NASDAQ:QUBT opened at $19.77 on Friday. The firm has a market capitalization of $3.12 billion, a P/E ratio of -41.19 and a beta of 3.96. The company’s 50-day simple moving average is $15.57 and its 200 day simple moving average is $10.86. Quantum Computing Inc. has a one year low of $0.53 and a one year high of $27.15.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.18. The firm had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.30 million.

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.