Headlands Technologies LLC Lowers Stock Position in Quantum Computing Inc. $QUBT

Headlands Technologies LLC trimmed its position in Quantum Computing Inc. (NASDAQ:QUBT) by 44.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,901 shares of the company’s stock after selling 122,297 shares during the quarter. Headlands Technologies LLC owned about 0.07% of Quantum Computing worth $1,503,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Quantum Computing in the second quarter worth approximately $172,020,000. Vanguard Group Inc. lifted its stake in shares of Quantum Computing by 38.1% during the 4th quarter. Vanguard Group Inc. now owns 16,841,423 shares of the company’s stock valued at $172,793,000 after buying an additional 4,643,818 shares in the last quarter. Marex Group plc lifted its stake in shares of Quantum Computing by 255.6% during the 4th quarter. Marex Group plc now owns 8,272,153 shares of the company’s stock valued at $84,872,000 after buying an additional 5,945,679 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in Quantum Computing during the third quarter valued at about $123,014,000. Finally, Geode Capital Management LLC lifted its position in shares of Quantum Computing by 45.5% in the fourth quarter. Geode Capital Management LLC now owns 4,565,192 shares of the company’s stock valued at $46,846,000 after acquiring an additional 1,428,120 shares in the last quarter. Institutional investors own 4.26% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Ascendiant Capital Markets increased their target price on Quantum Computing from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum Computing in a report on Wednesday, June 24th. Cantor Fitzgerald reissued a “neutral” rating and issued a $10.00 target price on shares of Quantum Computing in a report on Tuesday, August 11th. Rosenblatt Securities restated a “buy” rating and set a $22.00 target price on shares of Quantum Computing in a research report on Monday, June 29th. Finally, Wall Street Zen cut shares of Quantum Computing from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $18.67.

Quantum Computing Trading Up 1.0%

Shares of Quantum Computing stock opened at $8.23 on Tuesday. The stock has a 50 day moving average of $8.62 and a 200 day moving average of $8.86. Quantum Computing Inc. has a 12 month low of $6.18 and a 12 month high of $25.84. The firm has a market cap of $1.86 billion, a PE ratio of -117.55 and a beta of 3.74.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The business had revenue of $5.55 million during the quarter, compared to analyst estimates of $5.15 million. As a group, equities research analysts forecast that Quantum Computing Inc. will post -0.18 earnings per share for the current fiscal year.

Quantum Computing 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.