Amalgamated Bank Buys Shares of 3,938 Quantum Computing Inc. $QUBT

Amalgamated Bank purchased a new stake in shares of Quantum Computing Inc. (NASDAQ:QUBT) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,938 shares of the company’s stock, valued at approximately $75,000.

Several other large investors also recently modified their holdings of QUBT. Nisa Investment Advisors LLC purchased a new stake in Quantum Computing during the second quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Quantum Computing during the 2nd quarter valued at about $29,000. Compagnie Lombard Odier SCmA grew its stake in shares of Quantum Computing by 53.5% during the 2nd quarter. Compagnie Lombard Odier SCmA now owns 2,870 shares of the company’s stock valued at $55,000 after purchasing an additional 1,000 shares during the period. Rhumbline Advisers purchased a new stake in shares of Quantum Computing during the 1st quarter valued at about $28,000. Finally, Hollencrest Capital Management lifted its stake in shares of Quantum Computing by 60.0% in 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. Institutional investors own 4.26% of the company’s stock.

Insider Activity at Quantum Computing

In other Quantum Computing news, Director Javad Shabani sold 17,474 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $15.26, for a total transaction of $266,653.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert B. Fagenson sold 5,000 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $16.88, for a total transaction of $84,400.00. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,154,649 shares of company stock valued at $16,805,481. Corporate insiders own 19.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Lake Street Capital assumed coverage on shares of Quantum Computing in a report on Thursday, September 18th. They issued a “buy” rating and a $24.00 price objective on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Quantum Computing in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Quantum Computing from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 16th. Finally, Ascendiant Capital Markets boosted their price objective on shares of Quantum Computing from $22.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.33.

Quantum Computing Stock Performance

QUBT opened at $12.86 on Friday. The firm’s fifty day moving average is $17.72 and its 200 day moving average is $15.70. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -18.91 and a beta of 3.82. Quantum Computing Inc. has a fifty-two week low of $1.24 and a fifty-two week high of $27.15.

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