Quantum Computing Inc. $QUBT Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of Quantum Computing Inc. (NASDAQ:QUBT) by 1,612.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 933,925 shares of the company’s stock after purchasing an additional 879,374 shares during the period. JPMorgan Chase & Co.’s holdings in Quantum Computing were worth $17,194,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. J.W. Cole Advisors Inc. raised its position in Quantum Computing by 3.8% in the second quarter. J.W. Cole Advisors Inc. now owns 21,070 shares of the company’s stock worth $404,000 after acquiring an additional 770 shares in the last quarter. Toth Financial Advisory Corp lifted its holdings in Quantum Computing by 100.0% in the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the company’s stock valued at $37,000 after acquiring an additional 1,000 shares during the period. Two Sigma Investments LP boosted its position in shares of Quantum Computing by 2.5% during the 3rd quarter. Two Sigma Investments LP now owns 40,705 shares of the company’s stock worth $749,000 after purchasing an additional 1,001 shares in the last quarter. Gladstone Institutional Advisory LLC grew its stake in shares of Quantum Computing by 9.3% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 12,975 shares of the company’s stock worth $239,000 after purchasing an additional 1,100 shares during the period. Finally, Global Retirement Partners LLC grew its stake in shares of Quantum Computing by 12.5% during the 3rd quarter. Global Retirement Partners LLC now owns 10,055 shares of the company’s stock worth $185,000 after purchasing an additional 1,115 shares during the period. Institutional investors and hedge funds own 4.26% of the company’s stock.

Quantum Computing Stock Down 1.7%

NASDAQ:QUBT opened at $7.32 on Thursday. Quantum Computing Inc. has a 52-week low of $5.76 and a 52-week high of $25.84. The stock has a fifty day simple moving average of $8.90 and a 200-day simple moving average of $12.65. The company has a market capitalization of $1.64 billion, a PE ratio of -48.80 and a beta of 3.51.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The business had revenue of $0.20 million during the quarter, compared to analyst estimates of $0.39 million.

Insider Activity

In other Quantum Computing news, CFO Christopher Bruce Roberts sold 9,360 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $7.85, for a total value of $73,476.00. Following the sale, the chief financial officer owned 1,123,038 shares of the company’s stock, valued at $8,815,848.30. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Milan Begliarbekov sold 2,860 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $11.85, for a total transaction of $33,891.00. Following the completion of the sale, the chief operating officer owned 24,240 shares in the company, valued at $287,244. This represents a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 81,122 shares of company stock worth $648,248 in the last ninety days. Insiders own 19.30% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wedbush assumed coverage on shares of Quantum Computing in a research note on Wednesday, December 17th. They issued a “neutral” rating and a $12.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a research report on Monday, December 29th. Rosenblatt Securities reiterated a “buy” rating and set a $22.00 price target on shares of Quantum Computing in a research report on Tuesday, March 3rd. Ascendiant Capital Markets decreased their price target on Quantum Computing from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, December 22nd. Finally, Cantor Fitzgerald lowered their price target on Quantum Computing from $15.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.