Handelsbanken Fonder AB Invests $449,000 in Quantum Computing Inc. $QUBT

Handelsbanken Fonder AB purchased a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT) in the 4th quarter, Holdings Channel.com reports. The firm purchased 43,800 shares of the company’s stock, valued at approximately $449,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Quantum Computing by 38.1% during the fourth 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 during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Quantum Computing during the third quarter worth approximately $123,014,000. Anson Funds Management LP raised its stake in shares of Quantum Computing by 14.9% during the third quarter. Anson Funds Management LP now owns 5,373,455 shares of the company’s stock worth $98,925,000 after purchasing an additional 695,092 shares during the last quarter. Ghisallo Capital Management LLC purchased a new stake in shares of Quantum Computing during the third quarter worth approximately $74,194,000. Finally, Polar Asset Management Partners Inc. raised its stake in shares of Quantum Computing by 72.3% during the third 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 during the last quarter. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Insider Activity at Quantum Computing

In other news, CFO Christopher Bruce Roberts sold 9,360 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $7.85, for a total transaction of $73,476.00. Following the sale, the chief financial officer owned 1,123,038 shares of the company’s stock, valued at $8,815,848.30. The trade was a 0.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on QUBT shares. Cantor Fitzgerald cut their price target 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. Northland Securities started coverage on Quantum Computing in a research note on Monday, April 20th. They set an “outperform” rating and a $20.00 price target for the company. Rosenblatt Securities restated a “buy” rating and set a $22.00 price target on shares of Quantum Computing in a research note on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a research note on Friday, March 27th. Finally, Wall Street Zen upgraded Quantum Computing from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Four research 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.50.

Quantum Computing Stock Performance

NASDAQ:QUBT opened at $12.24 on Friday. The stock has a fifty day moving average price of $8.91 and a two-hundred day moving average price of $9.86. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of -43.71 and a beta of 3.70. 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 (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.03. The business had revenue of $3.69 million during the quarter, compared to analysts’ expectations of $3.13 million. On average, analysts predict that Quantum Computing Inc. will post -0.14 EPS for the current year.

About Quantum Computing

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.