SG Americas Securities LLC Sells 103,259 Shares of Quantum Computing Inc. $QUBT

SG Americas Securities LLC lowered its stake in shares of Quantum Computing Inc. (NASDAQ:QUBT) by 65.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,258 shares of the company’s stock after selling 103,259 shares during the period. SG Americas Securities LLC’s holdings in Quantum Computing were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of QUBT. Fortem Financial Group LLC boosted its position in shares of Quantum Computing by 58.5% during the first quarter. Fortem Financial Group LLC now owns 31,596 shares of the company’s stock worth $216,000 after purchasing an additional 11,657 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Quantum Computing during the 4th quarter worth $446,000. Rockefeller Capital Management L.P. raised its stake in Quantum Computing by 3.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 52,924 shares of the company’s stock worth $543,000 after buying an additional 1,871 shares during the period. Tulsa Wealth Advisors INC bought a new position in Quantum Computing during the fourth quarter worth about $246,000. Finally, Invesco Ltd. lifted its holdings in Quantum Computing by 21.1% during the fourth quarter. Invesco Ltd. now owns 96,557 shares of the company’s stock worth $991,000 after acquiring an additional 16,824 shares in the last quarter. 4.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on QUBT shares. Rosenblatt Securities reissued a “buy” rating and issued a $22.00 target price on shares of Quantum Computing in a research note on Monday, June 29th. Northland Securities started coverage on Quantum Computing in a report on Monday, April 20th. They set an “outperform” rating and a $20.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum Computing in a research report on Wednesday, June 24th. Lake Street Capital reiterated a “buy” rating on shares of Quantum Computing in a research report on Monday. Finally, Ascendiant Capital Markets increased their target price on Quantum Computing from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. 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’s stock. Based on data from MarketBeat.com, Quantum Computing has an average rating of “Hold” and an average price target of $18.33.

Quantum Computing News Roundup

Here are the key news stories impacting Quantum Computing this week:

• Positive Sentiment: Quantum Computing Inc. acquired NHanced Semiconductors and signed a NeuraWave AI deployment deal, both of which broaden its technology portfolio and strengthen its growth narrative. Quantum Computing (QUBT) Acquires NHanced And Lands NeuraWave AI Deployment Deal
• Positive Sentiment: QUBT landed new commercial agreements, including a purchase order and framework deal with Planck Dynamics, which may improve investor confidence in revenue conversion. Quantum Computing (QUBT) Lands New Deals, Is The Stock Still Undervalued?
• Positive Sentiment: Analyst coverage highlighted potential upside, with some reports citing roughly 111% upside from recent levels after Microsoft’s quantum-security warning increased attention on post-quantum cybersecurity. This $8 quantum stock has 111% upside after Microsoft’s warning

Quantum Computing Price Performance

Shares of NASDAQ:QUBT opened at $9.15 on Friday. The company’s 50-day moving average price is $10.29 and its two-hundred day moving average price is $9.55. Quantum Computing Inc. has a one year low of $6.18 and a one year high of $25.84. The stock has a market capitalization of $2.06 billion, a PE ratio of -32.68 and a beta of 3.78.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings results 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 company had revenue of $3.69 million during the quarter, compared to the consensus estimate of $3.13 million. On average, analysts anticipate that Quantum Computing Inc. will post -0.14 earnings per share for the current fiscal year.

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.