Quantum Computing Inc. $QUBT Shares Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. increased its position in shares of Quantum Computing Inc. (NASDAQ:QUBT) by 72.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,686,727 shares of the company’s stock after buying an additional 1,127,427 shares during the quarter. Quantum Computing comprises 0.5% of Polar Asset Management Partners Inc.’s investment portfolio, making the stock its 26th biggest holding. Polar Asset Management Partners Inc. owned about 1.20% of Quantum Computing worth $48,643,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Cantor Fitzgerald L. P. purchased a new stake in Quantum Computing in the third quarter valued at approximately $705,000. CIBC Bancorp USA Inc. purchased a new position in shares of Quantum Computing during the third quarter worth approximately $264,000. WBI Investments LLC acquired a new position in shares of Quantum Computing in the 3rd quarter valued at $347,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Quantum Computing in the 3rd quarter valued at $160,000. Finally, Advisory Services Network LLC purchased a new stake in Quantum Computing in the 3rd quarter valued at $70,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

Insider Transactions at Quantum Computing

In other Quantum Computing news, CFO Christopher Bruce Roberts sold 9,360 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $7.85, for a total transaction of $73,476.00. Following the sale, the chief financial officer owned 1,123,038 shares in the company, valued at approximately $8,815,848.30. This represents a 0.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Milan Begliarbekov sold 2,860 shares of Quantum Computing stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $11.85, for a total value of $33,891.00. Following the sale, the chief operating officer owned 24,240 shares of the company’s stock, valued at approximately $287,244. This represents a 10.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 81,122 shares of company stock worth $648,248. 19.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on QUBT shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $22.00 price objective on shares of Quantum Computing in a research note on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a report on Monday, December 29th. Cantor Fitzgerald cut their price target on Quantum Computing from $15.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Ascendiant Capital Markets decreased their price target on Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Finally, 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 objective on the stock. 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.00.

Quantum Computing Trading Down 3.8%

QUBT stock opened at $7.25 on Thursday. The company’s 50-day moving average price is $9.38 and its 200 day moving average price is $12.93. Quantum Computing Inc. has a 52 week low of $5.76 and a 52 week high of $25.84. The company has a market cap of $1.63 billion, a P/E ratio of -48.33 and a beta of 3.51.

Quantum Computing (NASDAQ:QUBT) last issued its earnings results on Monday, March 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The company had revenue of $0.20 million during the quarter, compared to analysts’ expectations of $0.39 million.

About Quantum Computing

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.