Quantum Computing Inc. $QUBT Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its position in shares of Quantum Computing Inc. (NASDAQ:QUBT) by 36.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 158,517 shares of the company’s stock after selling 90,790 shares during the quarter. SG Americas Securities LLC owned 0.07% of Quantum Computing worth $1,626,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Quantum Computing by 23.1% in the 3rd quarter. Vanguard Group Inc. now owns 12,197,605 shares of the company’s stock valued at $224,558,000 after purchasing an additional 2,286,514 shares during the period. Alyeska Investment Group L.P. acquired a new stake in Quantum Computing during the 3rd quarter worth about $123,014,000. Anson Funds Management LP lifted its stake in Quantum Computing by 14.9% during the third quarter. Anson Funds Management LP now owns 5,373,455 shares of the company’s stock valued at $98,925,000 after buying an additional 695,092 shares in the last quarter. Ghisallo Capital Management LLC acquired a new position in shares of Quantum Computing in the third quarter worth about $74,194,000. Finally, Polar Asset Management Partners Inc. boosted its holdings in shares of Quantum Computing by 72.3% in the third quarter. Polar Asset Management Partners Inc. now owns 2,686,727 shares of the company’s stock worth $48,643,000 after buying an additional 1,127,427 shares during the period. 4.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Christopher Bruce Roberts sold 68,902 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $7.85, for a total transaction of $540,880.70. Following the completion of the sale, the chief financial officer directly owned 1,132,398 shares in the company, valued at approximately $8,889,324.30. This trade represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Milan Begliarbekov sold 2,860 shares of Quantum Computing stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $11.85, for a total value of $33,891.00. Following the sale, the chief operating officer directly owned 24,240 shares of the company’s stock, valued at approximately $287,244. The trade was a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 81,122 shares of company stock worth $648,248 over the last ninety days. 19.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

QUBT has been the topic of a number of recent analyst reports. Ascendiant Capital Markets cut their price target on shares of Quantum Computing from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, December 22nd. Wedbush started coverage on shares of Quantum Computing in a research report on Wednesday, December 17th. They set a “neutral” rating and a $12.00 price objective on the stock. Wall Street Zen downgraded shares of Quantum Computing from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a report on Friday, March 27th. Finally, Cantor Fitzgerald decreased their target price on Quantum Computing from $15.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Quantum Computing has an average rating of “Hold” and a consensus price target of $17.00.

Quantum Computing Stock Performance

QUBT stock opened at $6.86 on Tuesday. The firm has a 50 day simple moving average of $8.08 and a 200 day simple moving average of $12.07. Quantum Computing Inc. has a 52 week low of $5.76 and a 52 week high of $25.84. The stock has a market cap of $1.54 billion, a P/E ratio of -45.73 and a beta of 3.67.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings data on Monday, March 2nd. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.03. The company had revenue of $0.20 million during the quarter, compared to analyst estimates of $0.39 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.