Quantum Computing Inc. $QUBT Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC grew its stake in Quantum Computing Inc. (NASDAQ:QUBT) by 1,231.3% in the third quarter, Holdings Channel.com reports. The firm owned 249,307 shares of the company’s stock after acquiring an additional 230,580 shares during the quarter. SG Americas Securities LLC’s holdings in Quantum Computing were worth $4,590,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake 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 during the last quarter. Focus Financial Network Inc. increased its stake in shares of Quantum Computing by 339.9% in the 3rd quarter. Focus Financial Network Inc. now owns 1,117,431 shares of the company’s stock worth $20,572,000 after acquiring an additional 863,394 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of Quantum Computing during the 2nd quarter worth $19,543,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Quantum Computing by 13.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,000,144 shares of the company’s stock worth $19,146,000 after acquiring an additional 115,284 shares during the period. Finally, Invesco Ltd. acquired a new position in shares of Quantum Computing during the 2nd quarter valued at about $16,035,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Quantum Computing Price Performance

Shares of QUBT stock opened at $11.72 on Monday. Quantum Computing Inc. has a 1-year low of $4.37 and a 1-year high of $25.84. The firm has a market cap of $2.63 billion, a PE ratio of -19.21 and a beta of 3.49. The company has a 50-day moving average of $11.73 and a two-hundred day moving average of $15.51.

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on QUBT. Wall Street Zen upgraded shares of Quantum Computing from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Lake Street Capital decreased their target price on shares of Quantum Computing from $24.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, November 17th. Cantor Fitzgerald reissued a “neutral” rating and issued a $15.00 price target on shares of Quantum Computing in a research note on Thursday, December 18th. Wedbush assumed coverage on shares of Quantum Computing in a research report on Wednesday, December 17th. They set a “neutral” rating and a $12.00 price target on the stock. Finally, Ascendiant Capital Markets decreased their price objective on Quantum Computing from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $17.00.

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.