Tudor Investment Corp ET AL Acquires Shares of 248,884 Quantum Computing Inc. $QUBT

Tudor Investment Corp ET AL acquired a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT) during the third quarter, HoldingsChannel.com reports. The fund acquired 248,884 shares of the company’s stock, valued at approximately $4,582,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Royal Bank of Canada grew its stake in shares of Quantum Computing by 57.1% in the first quarter. Royal Bank of Canada now owns 53,752 shares of the company’s stock valued at $430,000 after buying an additional 19,527 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Quantum Computing by 288.9% during the 1st quarter. Millennium Management LLC now owns 651,455 shares of the company’s stock valued at $5,212,000 after buying an additional 483,940 shares during the period. Goldman Sachs Group Inc. lifted its position in Quantum Computing by 0.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 326,278 shares of the company’s stock worth $2,610,000 after acquiring an additional 2,280 shares in the last quarter. Rhumbline Advisers purchased a new position in Quantum Computing in the 1st quarter worth approximately $28,000. Finally, Police & Firemen s Retirement System of New Jersey purchased a new position in Quantum Computing in the 2nd quarter worth approximately $500,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Insider Buying and Selling at Quantum Computing

In related news, COO Milan Begliarbekov sold 2,860 shares of the company’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $11.85, for a total value of $33,891.00. Following the sale, the chief operating officer directly owned 24,240 shares of the company’s stock, valued at $287,244. This represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Christopher Bruce Roberts sold 9,360 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $7.85, for a total transaction of $73,476.00. Following the transaction, the chief financial officer owned 1,123,038 shares in the company, valued at $8,815,848.30. This trade represents a 0.83% 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 over the last ninety days. 19.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on QUBT shares. Cantor Fitzgerald lowered their price objective on shares of Quantum Computing from $15.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Ascendiant Capital Markets decreased their target price on shares of Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, December 22nd. Wedbush started coverage on shares of Quantum Computing in a report on Wednesday, December 17th. They set a “neutral” rating and a $12.00 price target for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $22.00 price target on shares of Quantum Computing in a research note on Tuesday, March 3rd. Finally, Wall Street Zen lowered shares of Quantum Computing from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Three equities 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. According to MarketBeat, Quantum Computing currently has a consensus rating of “Hold” and a consensus price target of $17.00.

Quantum Computing Stock Down 1.7%

Shares of NASDAQ QUBT opened at $7.32 on Thursday. Quantum Computing Inc. has a fifty-two week low of $5.76 and a fifty-two week high of $25.84. The business has a 50 day moving average price of $8.90 and a two-hundred day moving average price of $12.65. The firm has a market cap of $1.64 billion, a PE ratio of -48.80 and a beta of 3.51.

Quantum Computing (NASDAQ:QUBT) last announced its earnings results on Monday, March 2nd. The company reported ($0.01) earnings per share (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.

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.