Virtu Financial LLC Cuts Stake in Quantum Computing Inc. $QUBT

Virtu Financial LLC decreased its holdings in Quantum Computing Inc. (NASDAQ:QUBT) by 70.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,374 shares of the company’s stock after selling 162,616 shares during the period. Virtu Financial LLC’s holdings in Quantum Computing were worth $712,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of QUBT. Invesco Ltd. raised its stake in shares of Quantum Computing by 21.1% in the fourth quarter. Invesco Ltd. now owns 96,557 shares of the company’s stock valued at $991,000 after acquiring an additional 16,824 shares in the last quarter. Vident Advisory LLC raised its position in Quantum Computing by 5.0% in the 4th quarter. Vident Advisory LLC now owns 48,164 shares of the company’s stock valued at $494,000 after purchasing an additional 2,290 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Quantum Computing by 710.4% in the 4th quarter. NewEdge Advisors LLC now owns 40,763 shares of the company’s stock valued at $418,000 after buying an additional 35,733 shares during the period. XTX Topco Ltd purchased a new position in shares of Quantum Computing in the 4th quarter valued at about $366,000. Finally, VARCOV Co. acquired a new position in shares of Quantum Computing during the fourth quarter worth about $709,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Quantum Computing Stock Performance

Shares of NASDAQ QUBT opened at $10.54 on Tuesday. The stock’s 50-day simple moving average is $10.17 and its 200-day simple moving average is $9.79. The firm has a market capitalization of $2.38 billion, a PE ratio of -37.64 and a beta of 3.72. Quantum Computing Inc. has a fifty-two week low of $6.18 and a fifty-two week high of $25.84.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The business had revenue of $3.69 million during the quarter, compared to analyst estimates of $3.13 million. On average, sell-side analysts forecast that Quantum Computing Inc. will post -0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on QUBT. Ascendiant Capital Markets upped their target price on shares of Quantum Computing from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Northland Securities initiated coverage on shares of Quantum Computing in a report on Monday, April 20th. They set an “outperform” rating and a $20.00 price target for the company. Wall Street Zen downgraded shares of Quantum Computing from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a report on Friday, March 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $22.00 price objective on shares of Quantum Computing in a research report on Tuesday, March 3rd. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Quantum Computing currently has a consensus rating of “Hold” and a consensus target price of $18.33.

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.