Osaic Holdings Inc. Buys 78,424 Shares of Quantum Computing Inc. $QUBT

Osaic Holdings Inc. grew its stake in shares of Quantum Computing Inc. (NASDAQ:QUBT) by 166.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 125,607 shares of the company’s stock after purchasing an additional 78,424 shares during the period. Osaic Holdings Inc. owned approximately 0.08% of Quantum Computing worth $2,408,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in QUBT. Charles Schwab Investment Management Inc. raised its stake in Quantum Computing by 66.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 50,878 shares of the company’s stock worth $407,000 after buying an additional 20,305 shares during the period. Deutsche Bank AG acquired a new stake in Quantum Computing in the first quarter valued at approximately $78,000. AlphaQuest LLC bought a new stake in shares of Quantum Computing during the first quarter valued at approximately $170,000. Jump Financial LLC acquired a new position in shares of Quantum Computing during the first quarter worth approximately $556,000. Finally, Ieq Capital LLC acquired a new position in shares of Quantum Computing during the first quarter worth approximately $364,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QUBT has been the subject of a number of recent research reports. Lake Street Capital decreased their price target on shares of Quantum Computing from $24.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Ascendiant Capital Markets reduced their price objective on shares of Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $15.00 target price on shares of Quantum Computing in a research report on Thursday, December 18th. Wedbush assumed coverage on shares of Quantum Computing in a research report on Wednesday, December 17th. They issued a “neutral” rating and a $12.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a report on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $17.00.

Quantum Computing Price Performance

QUBT opened at $10.66 on Friday. Quantum Computing Inc. has a fifty-two week low of $4.37 and a fifty-two week high of $25.84. The firm has a market capitalization of $2.39 billion, a P/E ratio of -17.48 and a beta of 3.80. The company’s 50-day moving average is $12.64 and its 200 day moving average is $16.03.

Quantum Computing (NASDAQ:QUBT) last posted its earnings results on Friday, November 14th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $0.38 million for the quarter, compared to the consensus estimate of $0.12 million.

Quantum Computing Profile

Quantum Computing Inc (NASDAQ: QUBT) is a provider of quantum computing and quantum-inspired algorithm solutions, headquartered in the United States with research and development operations in Europe. Originally incorporated as Unigrid Software in 2019, the company rebranded in 2021 to reflect its strategic focus on commercializing emerging quantum technologies for enterprise and government customers.

The company’s flagship product, Qatalyst, is a quantum-inspired optimization platform that applies advanced heuristic solvers to address complex combinatorial problems in logistics, supply chain management, finance and other data-intensive fields.