Vanguard Group Inc. Grows Stock Holdings in Quantum Computing Inc. $QUBT

Vanguard Group Inc. lifted its position in Quantum Computing Inc. (NASDAQ:QUBT) by 23.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 12,197,605 shares of the company’s stock after buying an additional 2,286,514 shares during the quarter. Vanguard Group Inc. owned 0.05% of Quantum Computing worth $224,558,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new stake in shares of Quantum Computing during the second quarter worth about $28,000. Farther Finance Advisors LLC lifted its holdings in Quantum Computing by 724.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company’s stock worth $28,000 after buying an additional 1,319 shares in the last quarter. FWL Investment Management LLC purchased a new position in Quantum Computing in the 2nd quarter valued at approximately $33,000. Toth Financial Advisory Corp grew its stake in shares of Quantum Computing by 100.0% in the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the company’s stock worth $37,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Strs Ohio purchased a new stake in shares of Quantum Computing during the third quarter worth $39,000. 4.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on QUBT shares. Ascendiant Capital Markets lowered their target price on Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, December 22nd. Lake Street Capital decreased their price target on shares of Quantum Computing from $24.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Wall Street Zen raised shares of Quantum Computing from a “sell” rating to a “hold” rating in a research report on Sunday, February 15th. Rosenblatt Securities began coverage on shares of Quantum Computing in a research note on Thursday, January 15th. They set a “buy” rating and a $22.00 target price for the company. Finally, Wedbush initiated coverage on Quantum Computing in a research note on Wednesday, December 17th. They issued a “neutral” rating and a $12.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Insider Activity

In related news, COO Milan Begliarbekov sold 2,860 shares of the business’s 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 transaction, the chief operating officer owned 24,240 shares in the company, valued at $287,244. The trade was a 10.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 19.30% of the stock is currently owned by corporate insiders.

Quantum Computing Trading Down 7.0%

QUBT stock opened at $8.41 on Monday. The company has a market capitalization of $1.88 billion, a P/E ratio of -13.79 and a beta of 3.51. The business has a 50 day simple moving average of $10.30 and a 200-day simple moving average of $13.61. Quantum Computing Inc. has a twelve month low of $4.37 and a twelve month high of $25.84.

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.