Vanguard Group Inc. Has $172.79 Million Stake in Quantum Computing Inc. $QUBT

Vanguard Group Inc. boosted its position in Quantum Computing Inc. (NASDAQ:QUBT) by 38.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,841,423 shares of the company’s stock after buying an additional 4,643,818 shares during the period. Vanguard Group Inc. owned approximately 0.08% of Quantum Computing worth $172,793,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of QUBT. Aventura Private Wealth LLC acquired a new position in Quantum Computing in the fourth quarter valued at $26,000. Farther Finance Advisors LLC lifted its holdings 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 buying an additional 1,319 shares during the period. Rhumbline Advisers acquired a new position in Quantum Computing in the first quarter valued at $28,000. Toth Financial Advisory Corp lifted its holdings in Quantum Computing by 50.0% in the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the company’s stock valued at $31,000 after buying an additional 1,000 shares during the period. Finally, FWL Investment Management LLC acquired a new position in shares of Quantum Computing during the second quarter valued at about $33,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

Quantum Computing Stock Performance

Shares of NASDAQ QUBT opened at $9.60 on Monday. Quantum Computing Inc. has a 1-year low of $6.18 and a 1-year high of $25.84. The firm has a market capitalization of $2.16 billion, a P/E ratio of -64.00 and a beta of 3.70. The firm’s 50-day moving average price is $7.98 and its 200-day moving average price is $10.30.

Quantum Computing (NASDAQ:QUBT) last posted its earnings results on Monday, March 2nd. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The business had revenue of $0.20 million during the quarter, compared to analyst estimates of $0.39 million. Equities research analysts forecast that Quantum Computing Inc. will post -0.24 EPS for the current year.

Insider Buying and Selling at Quantum Computing

In related news, CFO Christopher Bruce Roberts sold 9,360 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $7.85, for a total value of $73,476.00. Following the sale, the chief financial officer owned 1,123,038 shares in the company, valued at $8,815,848.30. This represents a 0.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 19.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald dropped their price objective on shares of Quantum Computing from $15.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $22.00 price objective on shares of Quantum Computing in a report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum Computing in a report on Friday, March 27th. Northland Securities assumed coverage on shares of Quantum Computing in a report on Monday, April 20th. They set an “outperform” rating and a $20.00 price objective on the stock. Finally, Wall Street Zen lowered shares of Quantum Computing from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.50.

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.