World Investment Advisors Acquires New Holdings in Quantum Computing Inc. $QUBT

World Investment Advisors bought a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,090 shares of the company’s stock, valued at approximately $193,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC bought a new position in shares of Quantum Computing during the second quarter valued at $28,000. Wealthfront Advisers LLC acquired a new stake in Quantum Computing in the second quarter valued at $242,000. AlphaQuest LLC increased its holdings in Quantum Computing by 56.1% in the second quarter. AlphaQuest LLC now owns 33,175 shares of the company’s stock valued at $636,000 after purchasing an additional 11,922 shares during the period. Pacific Heights Asset Management LLC bought a new position in Quantum Computing during the 2nd quarter worth $7,668,000. Finally, Chicago Partners Investment Group LLC acquired a new position in Quantum Computing during the 2nd quarter worth about $267,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on QUBT shares. Ascendiant Capital Markets increased their price target on Quantum Computing from $22.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Quantum Computing in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Quantum Computing from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 16th. Finally, Lake Street Capital began coverage on shares of Quantum Computing in a research report on Thursday, September 18th. They set a “buy” rating and a $24.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.33.

Insider Buying and Selling at Quantum Computing

In related news, CRO Pouya Dianat sold 17,175 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $15.53, for a total value of $266,727.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert B. Fagenson sold 35,000 shares of Quantum Computing stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $15.52, for a total value of $543,200.00. Following the transaction, the director owned 50,000 shares of the company’s stock, valued at $776,000. This trade represents a 41.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 1,154,649 shares of company stock worth $16,805,481. Corporate insiders own 19.30% of the company’s stock.

Quantum Computing Stock Performance

Shares of NASDAQ:QUBT opened at $14.19 on Thursday. Quantum Computing Inc. has a 52-week low of $1.03 and a 52-week high of $27.15. The business’s 50 day simple moving average is $17.84 and its two-hundred day simple moving average is $15.60. The firm has a market cap of $3.18 billion, a P/E ratio of -20.87 and a beta of 3.85.

Quantum Computing (NASDAQ:QUBT) last issued its earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.10 million.

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.