SG Americas Securities LLC Boosts Holdings in Quantum Computing Inc. $QUBT

SG Americas Securities LLC boosted its stake in shares of Quantum Computing Inc. (NASDAQ:QUBT) by 1,231.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 249,307 shares of the company’s stock after purchasing an additional 230,580 shares during the period. SG Americas Securities LLC owned approximately 0.11% of Quantum Computing worth $4,590,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of QUBT. Geode Capital Management LLC raised its position in shares of Quantum Computing by 116.8% in the second quarter. Geode Capital Management LLC now owns 2,630,525 shares of the company’s stock worth $50,433,000 after acquiring an additional 1,416,928 shares during the period. Penserra Capital Management LLC purchased a new position in shares of Quantum Computing in the 2nd quarter valued at about $19,543,000. Focus Financial Network Inc. raised its holdings in Quantum Computing by 339.9% in the 3rd quarter. Focus Financial Network Inc. now owns 1,117,431 shares of the company’s stock worth $20,572,000 after purchasing an additional 863,394 shares during the period. Invesco Ltd. purchased a new position in Quantum Computing during the second quarter worth approximately $16,035,000. Finally, First Trust Advisors LP purchased a new position in Quantum Computing during the second quarter worth approximately $14,792,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on QUBT. Wall Street Zen upgraded Quantum Computing from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Ascendiant Capital Markets dropped their price target on shares of Quantum Computing from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, December 22nd. Lake Street Capital reduced their price objective on shares of Quantum Computing from $24.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, November 17th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $15.00 price objective on shares of Quantum Computing in a report on Thursday, December 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $17.00.

Quantum Computing Stock Performance

NASDAQ QUBT opened at $11.72 on Monday. The business has a fifty day moving average price of $11.73 and a 200 day moving average price of $15.51. The company has a market cap of $2.63 billion, a P/E ratio of -19.21 and a beta of 3.49. Quantum Computing Inc. has a one year low of $4.37 and a one year high of $25.84.

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