Quantum Computing Inc. $QUBT Stock Holdings Cut by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC lessened its position in Quantum Computing Inc. (NASDAQ:QUBT) by 78.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,114 shares of the company’s stock after selling 54,801 shares during the period. Foundations Investment Advisors LLC’s holdings in Quantum Computing were worth $278,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. New York State Common Retirement Fund raised its position in Quantum Computing by 17.0% in the third quarter. New York State Common Retirement Fund now owns 42,700 shares of the company’s stock worth $786,000 after acquiring an additional 6,200 shares in the last quarter. TD Waterhouse Canada Inc. grew its stake in shares of Quantum Computing by 1,683.8% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 8,027 shares of the company’s stock worth $152,000 after purchasing an additional 7,577 shares during the last quarter. Truist Financial Corp bought a new stake in shares of Quantum Computing in the 3rd quarter worth approximately $220,000. B. Riley Wealth Advisors Inc. acquired a new stake in Quantum Computing during the third quarter valued at approximately $207,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Quantum Computing during the third quarter worth approximately $5,439,000. Institutional investors own 4.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Ascendiant Capital Markets cut their price objective on Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, December 22nd. Wall Street Zen raised Quantum Computing from a “strong sell” rating to a “hold” rating in a report on Saturday, November 22nd. Rosenblatt Securities initiated coverage on Quantum Computing in a research report on Thursday, January 15th. They issued a “buy” rating and a $22.00 price target for the company. Cantor Fitzgerald restated 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 reaffirmed a “sell (d-)” rating on shares of Quantum Computing in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.00.

Insider Buying and Selling at Quantum Computing

In related news, COO Milan Begliarbekov sold 2,860 shares of the stock in a transaction on Wednesday, January 7th. The stock was 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 directly owned 24,240 shares in the company, valued at approximately $287,244. This trade represents a 10.55% 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. Company insiders own 19.30% of the company’s stock.

Quantum Computing Price Performance

NASDAQ QUBT opened at $9.13 on Thursday. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -14.97 and a beta of 3.44. The company has a 50 day simple moving average of $11.44 and a 200-day simple moving average of $14.55. Quantum Computing Inc. has a 52-week low of $4.37 and a 52-week high of $25.84.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $0.38 million during the quarter, compared to analyst estimates of $0.12 million.

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.