4,030,092 Shares in Quantum Computing Inc. $QUBT Purchased by Ghisallo Capital Management LLC

Ghisallo Capital Management LLC acquired a new position in Quantum Computing Inc. (NASDAQ:QUBT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,030,092 shares of the company’s stock, valued at approximately $74,194,000. Quantum Computing accounts for about 2.4% of Ghisallo Capital Management LLC’s portfolio, making the stock its 7th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Squarepoint Ops LLC grew its position in shares of Quantum Computing by 602.1% during the 3rd quarter. Squarepoint Ops LLC now owns 269,920 shares of the company’s stock valued at $4,969,000 after acquiring an additional 231,473 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in shares of Quantum Computing by 47.1% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 5,823 shares of the company’s stock worth $107,000 after purchasing an additional 1,864 shares during the period. Quantitative Investment Management LLC bought a new stake in shares of Quantum Computing in the 3rd quarter worth approximately $326,000. Sei Investments Co. lifted its stake in Quantum Computing by 141.8% in the third quarter. Sei Investments Co. now owns 27,720 shares of the company’s stock valued at $510,000 after purchasing an additional 16,257 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Quantum Computing by 170.2% in the third quarter. BNP Paribas Financial Markets now owns 1,587,265 shares of the company’s stock valued at $29,222,000 after purchasing an additional 999,776 shares during the last quarter. 4.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Quantum Computing

In related news, CFO Christopher Bruce Roberts sold 68,902 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $7.85, for a total transaction of $540,880.70. Following the sale, the chief financial officer directly owned 1,132,398 shares in the company, valued at approximately $8,889,324.30. The trade was a 5.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Milan Begliarbekov sold 2,860 shares of the stock in a transaction dated Wednesday, January 7th. The stock was 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 in the company, valued at $287,244. This trade represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 81,122 shares of company stock valued at $648,248. 19.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on QUBT. Rosenblatt Securities reissued a “buy” rating and issued a $22.00 target price on shares of Quantum Computing in a research report on Tuesday, March 3rd. Wall Street Zen cut Quantum Computing from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Lake Street Capital cut their price target on Quantum Computing from $24.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a report on Monday, December 29th. Finally, Ascendiant Capital Markets lowered their price objective 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. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.00.

Quantum Computing Trading Down 1.7%

Quantum Computing stock opened at $7.30 on Friday. Quantum Computing Inc. has a 1-year low of $5.76 and a 1-year high of $25.84. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -48.67 and a beta of 3.51. The firm has a 50 day simple moving average of $9.65 and a 200 day simple moving average of $13.11.

Quantum Computing (NASDAQ:QUBT) last posted its earnings results on Monday, March 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.03. The company had revenue of $0.20 million for the quarter, compared to analysts’ expectations of $0.39 million.

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.