Quantum Computing Inc. $QUBT Shares Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS lifted its holdings in shares of Quantum Computing Inc. (NASDAQ:QUBT) by 20.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,200 shares of the company’s stock after buying an additional 4,700 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Quantum Computing were worth $521,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Rhumbline Advisers purchased a new stake in shares of Quantum Computing during the first quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Quantum Computing during the second quarter worth $29,000. Hollencrest Capital Management grew its holdings in shares of Quantum Computing by 60.0% during the 1st quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $32,000 after purchasing an additional 1,500 shares during the period. KBC Group NV purchased a new position in shares of Quantum Computing during the 1st quarter worth $41,000. Finally, Quarry LP acquired a new position in Quantum Computing during the 1st quarter worth about $55,000. 4.26% of the stock is owned by institutional investors and hedge funds.

Quantum Computing Price Performance

Quantum Computing stock opened at $18.33 on Friday. Quantum Computing Inc. has a 1-year low of $0.88 and a 1-year high of $27.15. The company has a market cap of $4.11 billion, a PE ratio of -26.96 and a beta of 3.85. The stock’s 50 day moving average price is $17.85 and its 200 day moving average price is $14.75.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). The business had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $0.10 million.

Insider Transactions at Quantum Computing

In other Quantum Computing news, CEO Yuping Huang sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $14.41, for a total transaction of $14,410,000.00. Following the sale, the chief executive officer directly owned 21,287,718 shares in the company, valued at approximately $306,756,016.38. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Javad Shabani sold 17,474 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $15.26, for a total value of $266,653.24. The disclosure for this sale can be found here. Insiders have sold a total of 1,154,649 shares of company stock valued at $16,805,481 in the last three months. 19.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on QUBT. Lake Street Capital initiated coverage on Quantum Computing in a research note on Thursday, September 18th. They set a “buy” rating and a $24.00 target price on the stock. Wall Street Zen lowered Quantum Computing from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 16th. Ascendiant Capital Markets raised their target price on Quantum Computing from $22.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Quantum Computing in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald initiated coverage on Quantum Computing in a research report on Wednesday, July 2nd. They set a “neutral” rating and a $15.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.33.

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.