Ameritas Investment Partners Inc. Acquires Shares of 11,772 Quantum Computing Inc. $QUBT

Ameritas Investment Partners Inc. bought a new position in Quantum Computing Inc. (NASDAQ:QUBT) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 11,772 shares of the company’s stock, valued at approximately $226,000.

Other large investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC bought a new position in Quantum Computing in the second quarter worth about $28,000. Rhumbline Advisers bought a new stake in Quantum Computing during the 1st quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Quantum Computing during the 2nd quarter worth approximately $29,000. Allworth Financial LP bought a new position in shares of Quantum Computing in the 2nd quarter worth approximately $42,000. Finally, Quarry LP bought a new position in shares of Quantum Computing in the 1st quarter worth approximately $55,000. Institutional investors own 4.26% of the company’s stock.

Insider Buying and Selling

In other news, Director Javad Shabani sold 20,000 shares of the business’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $15.30, for a total value of $306,000.00. Following the completion of the transaction, the director owned 17,474 shares in the company, valued at $267,352.20. The trade was a 53.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Yuping Huang sold 1,000,000 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $14.41, for a total value of $14,410,000.00. Following the transaction, the chief executive officer directly owned 21,287,718 shares in the company, valued at approximately $306,756,016.38. The trade was a 4.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,137,474 shares of company stock worth $16,538,753 in the last three months. Insiders own 19.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a research report on Tuesday, November 25th. Lake Street Capital reduced their target price on shares of Quantum Computing from $24.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, November 17th. Ascendiant Capital Markets increased their price target on shares of Quantum Computing from $22.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Finally, Wall Street Zen raised shares of Quantum Computing from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Quantum Computing has a consensus rating of “Hold” and a consensus price target of $23.67.

Quantum Computing Price Performance

QUBT opened at $11.77 on Monday. The firm has a market cap of $2.64 billion, a PE ratio of -17.30 and a beta of 3.82. The stock has a 50-day moving average price of $16.16 and a 200-day moving average price of $16.15. Quantum Computing Inc. has a 1 year low of $4.37 and a 1 year high of $27.15.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $0.38 million for the quarter, compared to the consensus estimate of $0.12 million.

Quantum Computing Company Profile

Quantum Computing Inc, an integrated photonics company, offers accessible and affordable quantum machines. The company offers Dirac systems are portable, low power, and room temperature qubit and qudit entropy quantum computers (EQC); reservoir computing; remote sensing; and single photon imaging. It also provides Quantum random number generator (uQRNG), a portable device that provides genuine random numbers directly from quantum processes; and quantum authentication which eliminates vulnerabilities inherent in classical cryptographic schemes by offering a comprehensive entanglement-based quantum cyber solution that seamlessly integrates into existing telecom fiber and communication infrastructure.