Handelsbanken Fonder AB Purchases Shares of 43,800 Quantum Computing Inc. $QUBT

Handelsbanken Fonder AB purchased a new stake in Quantum Computing Inc. (NASDAQ:QUBT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 43,800 shares of the company’s stock, valued at approximately $449,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Toth Financial Advisory Corp boosted its holdings in Quantum Computing by 50.0% in the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the company’s stock valued at $31,000 after purchasing an additional 1,000 shares in the last quarter. Signaturefd LLC boosted its holdings in Quantum Computing by 36.5% in the fourth quarter. Signaturefd LLC now owns 3,742 shares of the company’s stock valued at $38,000 after purchasing an additional 1,000 shares in the last quarter. Two Sigma Investments LP boosted its holdings in Quantum Computing by 2.5% in the third quarter. Two Sigma Investments LP now owns 40,705 shares of the company’s stock valued at $749,000 after purchasing an additional 1,001 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Quantum Computing by 43.5% in 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 second quarter valued at approximately $33,000. 4.26% of the stock is owned by institutional investors and hedge funds.

Quantum Computing Trading Up 7.2%

Shares of NASDAQ QUBT opened at $12.24 on Friday. Quantum Computing Inc. has a twelve month low of $6.18 and a twelve month high of $25.84. The stock has a 50 day moving average of $8.91 and a two-hundred day moving average of $9.86. The stock has a market cap of $2.76 billion, a P/E ratio of -43.71 and a beta of 3.70.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $3.69 million during the quarter, compared to analysts’ expectations of $3.13 million. As a group, research analysts predict that Quantum Computing Inc. will post -0.14 earnings per share for the current year.

Insider Activity

In related news, CFO Christopher Bruce Roberts sold 68,902 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $7.85, for a total transaction of $540,880.70. Following the transaction, the chief financial officer owned 1,132,398 shares of the company’s stock, valued at $8,889,324.30. This trade represents a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 19.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on QUBT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum Computing in a report on Friday, March 27th. Northland Securities started coverage on Quantum Computing in a report on Monday, April 20th. They issued an “outperform” rating and a $20.00 price target for the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $22.00 price target on shares of Quantum Computing in a report on Tuesday, March 3rd. Cantor Fitzgerald lowered their price target on Quantum Computing from $15.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Finally, Wall Street Zen raised Quantum Computing from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $17.50.

About Quantum Computing

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.