Osaic Holdings Inc. Purchases 78,424 Shares of Quantum Computing Inc. $QUBT

Osaic Holdings Inc. grew its position in shares of Quantum Computing Inc. (NASDAQ:QUBT) by 166.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,607 shares of the company’s stock after purchasing an additional 78,424 shares during the period. Osaic Holdings Inc.’s holdings in Quantum Computing were worth $2,408,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in QUBT. Geode Capital Management LLC grew its position in Quantum Computing by 116.8% during the second quarter. Geode Capital Management LLC now owns 2,630,525 shares of the company’s stock worth $50,433,000 after buying an additional 1,416,928 shares in the last quarter. Penserra Capital Management LLC bought a new stake in shares of Quantum Computing during the 2nd quarter valued at about $19,543,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Quantum Computing by 13.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,000,144 shares of the company’s stock worth $19,146,000 after purchasing an additional 115,284 shares in the last quarter. Invesco Ltd. purchased a new position in shares of Quantum Computing during the second quarter worth about $16,035,000. Finally, First Trust Advisors LP bought a new position in shares of Quantum Computing in the second quarter worth approximately $14,792,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on QUBT shares. Lake Street Capital dropped their target price on shares of Quantum Computing from $24.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, November 17th. Wedbush began coverage on shares of Quantum Computing in a report on Wednesday, December 17th. They set a “neutral” rating and a $12.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum Computing in a research report on Monday, December 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $15.00 target price on shares of Quantum Computing in a research note on Thursday, December 18th. Finally, Ascendiant Capital Markets dropped their price target on Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $17.00.

Quantum Computing Stock Performance

Shares of Quantum Computing stock opened at $10.66 on Friday. Quantum Computing Inc. has a 52-week low of $4.37 and a 52-week high of $25.84. The company has a fifty day moving average of $12.64 and a 200-day moving average of $16.03. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -17.48 and a beta of 3.80.

Quantum Computing (NASDAQ:QUBT) last issued its earnings results on Friday, November 14th. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $0.38 million during the quarter, compared to analysts’ expectations of $0.12 million.

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.