Yarbrough Capital LLC Has $1.02 Million Stock Position in Quantum Computing Inc. $QUBT

Yarbrough Capital LLC lifted its stake in shares of Quantum Computing Inc. (NASDAQ:QUBT) by 449.7% during the fourth quarter, Holdings Channel reports. The fund owned 99,056 shares of the company’s stock after buying an additional 81,037 shares during the quarter. Yarbrough Capital LLC’s holdings in Quantum Computing were worth $1,016,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in QUBT. Aventura Private Wealth LLC acquired a new position in Quantum Computing during the 4th quarter worth approximately $26,000. Farther Finance Advisors LLC grew its stake in Quantum Computing by 724.7% in the third quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company’s stock valued at $28,000 after acquiring an additional 1,319 shares during the period. Rhumbline Advisers acquired a new stake in Quantum Computing in the first quarter valued at approximately $28,000. FWL Investment Management LLC bought a new stake in shares of Quantum Computing during the second quarter valued at approximately $33,000. Finally, New Millennium Group LLC acquired a new position in shares of Quantum Computing during the third quarter worth approximately $36,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on QUBT. Cantor Fitzgerald cut their target price on Quantum Computing from $15.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum Computing in a research report on Friday. Wedbush assumed coverage on shares of Quantum Computing in a report on Wednesday, December 17th. They issued a “neutral” rating and a $12.00 price target on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $22.00 target price on shares of Quantum Computing in a research report on Tuesday, March 3rd. Finally, Wall Street Zen cut Quantum Computing from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $17.00.

Quantum Computing Stock Performance

QUBT stock opened at $6.66 on Monday. The company’s 50 day moving average price is $8.68 and its two-hundred day moving average price is $12.51. Quantum Computing Inc. has a one year low of $5.76 and a one year high of $25.84. The company has a market capitalization of $1.50 billion, a PE ratio of -44.40 and a beta of 3.51.

Quantum Computing (NASDAQ:QUBT) last released its earnings results on Monday, March 2nd. The company reported ($0.01) earnings per share 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 the consensus estimate of $0.39 million.

Insider Buying and Selling at Quantum Computing

In related news, CFO Christopher Bruce Roberts sold 9,360 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $7.85, for a total value of $73,476.00. Following the completion of the sale, the chief financial officer owned 1,123,038 shares of the company’s stock, valued at $8,815,848.30. This trade represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $33,891.00. Following the completion of the sale, the chief operating officer owned 24,240 shares in the company, valued at approximately $287,244. This trade represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 81,122 shares of company stock valued at $648,248 in the last three months. 19.30% of the stock is currently owned by corporate insiders.

Quantum Computing Company 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.