Quantum Computing Inc. $QUBT Stake Raised by Focus Financial Network Inc.

Focus Financial Network Inc. boosted its holdings in shares of Quantum Computing Inc. (NASDAQ:QUBT) by 402.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 911,635 shares of the company’s stock after acquiring an additional 730,240 shares during the quarter. Focus Financial Network Inc.’s holdings in Quantum Computing were worth $8,843,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Signaturefd LLC increased its holdings in shares of Quantum Computing by 36.5% in the 4th quarter. Signaturefd LLC now owns 3,742 shares of the company’s stock valued at $38,000 after purchasing an additional 1,000 shares during the period. Two Sigma Investments LP boosted its holdings in shares of Quantum Computing by 2.5% during the third quarter. Two Sigma Investments LP now owns 40,705 shares of the company’s stock worth $749,000 after purchasing an additional 1,001 shares during the period. PNC Financial Services Group Inc. grew its position in Quantum Computing by 9.2% during the first quarter. PNC Financial Services Group Inc. now owns 12,515 shares of the company’s stock valued at $86,000 after purchasing an additional 1,057 shares in the last quarter. NewEdge Advisors LLC grew its position in Quantum Computing by 43.5% during the third quarter. NewEdge Advisors LLC now owns 5,030 shares of the company’s stock valued at $93,000 after purchasing an additional 1,525 shares in the last quarter. Finally, FWL Investment Management LLC acquired a new position in Quantum Computing in the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Quantum Computing Price Performance

NASDAQ QUBT opened at $9.18 on Monday. The stock has a market capitalization of $2.07 billion, a PE ratio of -32.78 and a beta of 3.74. Quantum Computing Inc. has a 12-month low of $6.18 and a 12-month high of $25.84. The company has a 50 day moving average price of $9.25 and a two-hundred day moving average price of $9.04.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. The business had revenue of $3.69 million for the quarter, compared to analyst estimates of $3.13 million. As a group, equities analysts anticipate that Quantum Computing Inc. will post -0.14 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum Computing in a research report on Wednesday, June 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $22.00 price target on shares of Quantum Computing in a research note on Monday, June 29th. Cantor Fitzgerald reiterated a “neutral” rating and set a $10.00 price objective on shares of Quantum Computing in a report on Wednesday, June 24th. Lake Street Capital reissued a “buy” rating on shares of Quantum Computing in a research report on Monday, July 6th. Finally, Wall Street Zen downgraded Quantum Computing from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.33.

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.