Yarbrough Capital LLC Buys 81,037 Shares of Quantum Computing Inc. $QUBT

Yarbrough Capital LLC raised its stake in Quantum Computing Inc. (NASDAQ:QUBT) by 449.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,056 shares of the company’s stock after purchasing an additional 81,037 shares during the period. Yarbrough Capital LLC’s holdings in Quantum Computing were worth $1,016,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of QUBT. Aventura Private Wealth LLC bought a new stake in shares of Quantum Computing in the fourth quarter valued at about $26,000. Farther Finance Advisors LLC increased its holdings in Quantum Computing by 724.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company’s stock valued at $28,000 after buying an additional 1,319 shares during the period. Rhumbline Advisers acquired a new stake in shares of Quantum Computing during the first quarter worth approximately $28,000. FWL Investment Management LLC bought a new stake in Quantum Computing during the 2nd quarter worth about $33,000. Finally, New Millennium Group LLC acquired a new stake in shares of Quantum Computing during the 3rd quarter worth approximately $36,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Quantum Computing news, CFO Christopher Bruce Roberts sold 68,902 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $7.85, for a total value of $540,880.70. Following the transaction, the chief financial officer directly owned 1,132,398 shares in the company, valued at $8,889,324.30. The trade was a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Milan Begliarbekov sold 2,860 shares of the company’s stock in a transaction on 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 owned 24,240 shares of the company’s stock, valued at $287,244. The trade was a 10.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 81,122 shares of company stock worth $648,248 over the last three months. 19.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on QUBT. Wall Street Zen downgraded Quantum Computing from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Wedbush assumed coverage on shares of Quantum Computing in a report on Wednesday, December 17th. They issued a “neutral” rating and a $12.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a report on Friday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Quantum Computing in a research report on Tuesday, March 3rd. Finally, Ascendiant Capital Markets lowered their target price on Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $17.00.

Quantum Computing Price Performance

Quantum Computing stock opened at $6.66 on Monday. The company’s 50-day moving average is $8.68 and its 200-day moving average is $12.51. The firm has a market capitalization of $1.50 billion, a PE ratio of -44.40 and a beta of 3.51. Quantum Computing Inc. has a fifty-two week low of $5.76 and a fifty-two week high of $25.84.

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

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.