Jupiter Asset Management Ltd. Buys Shares of 638,349 Quantum Computing Inc. $QUBT

Jupiter Asset Management Ltd. acquired a new position in Quantum Computing Inc. (NASDAQ:QUBT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 638,349 shares of the company’s stock, valued at approximately $6,549,000. Jupiter Asset Management Ltd. owned approximately 0.28% of Quantum Computing at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Quantum Computing by 38.1% in the 4th quarter. Vanguard Group Inc. now owns 16,841,423 shares of the company’s stock worth $172,793,000 after purchasing an additional 4,643,818 shares in the last quarter. SLT Holdings LLC boosted its position in shares of Quantum Computing by 1,028.7% in the 4th quarter. SLT Holdings LLC now owns 169,300 shares of the company’s stock worth $1,737,000 after purchasing an additional 154,300 shares in the last quarter. Ghisallo Capital Management LLC acquired a new stake in shares of Quantum Computing in the 3rd quarter worth $74,194,000. JPMorgan Chase & Co. boosted its position in shares of Quantum Computing by 1,612.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 933,925 shares of the company’s stock worth $17,194,000 after purchasing an additional 879,374 shares in the last quarter. Finally, Polar Asset Management Partners Inc. boosted its position in shares of Quantum Computing by 72.3% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 2,686,727 shares of the company’s stock worth $48,643,000 after purchasing an additional 1,127,427 shares in the last quarter. Institutional investors and hedge funds own 4.26% of the company’s stock.

Quantum Computing Price Performance

Shares of QUBT stock opened at $11.96 on Friday. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of -42.71 and a beta of 3.70. The business has a fifty day moving average of $9.00 and a 200 day moving average of $9.88. Quantum Computing Inc. has a 1 year low of $6.18 and a 1 year high of $25.84.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $3.69 million for the quarter, compared to analysts’ expectations of $3.13 million. As a group, equities research analysts expect that Quantum Computing Inc. will post -0.14 earnings per share for the current year.

Insider Buying and Selling at Quantum Computing

In other Quantum Computing news, CFO Christopher Bruce Roberts sold 68,902 shares of Quantum Computing stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $7.85, for a total transaction of $540,880.70. Following the completion of the transaction, the chief financial officer owned 1,132,398 shares in the company, valued at approximately $8,889,324.30. This trade represents a 5.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 19.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on QUBT shares. Northland Securities started coverage on Quantum Computing in a research report on Monday, April 20th. They issued an “outperform” rating and a $20.00 price objective for the company. Wall Street Zen raised Quantum Computing from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a research note on Friday, March 27th. Cantor Fitzgerald reduced their target price 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. Finally, Rosenblatt Securities restated a “buy” rating and issued a $22.00 target price on shares of Quantum Computing in a research note on Tuesday, March 3rd. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.