UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stake in Quantum Computing Inc. $QUBT

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Quantum Computing Inc. (NASDAQ:QUBT) by 28.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 321,236 shares of the company’s stock after acquiring an additional 70,775 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Quantum Computing were worth $3,116,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in QUBT. Two Sigma Investments LP grew its holdings in Quantum Computing by 2.5% in the 3rd quarter. Two Sigma Investments LP now owns 40,705 shares of the company’s stock worth $749,000 after acquiring an additional 1,001 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Quantum Computing by 9.2% in the first quarter. PNC Financial Services Group Inc. now owns 12,515 shares of the company’s stock valued at $86,000 after acquiring an additional 1,057 shares during the period. NewEdge Advisors LLC raised its stake in shares of Quantum Computing by 43.5% during the third quarter. NewEdge Advisors LLC now owns 5,030 shares of the company’s stock valued at $93,000 after acquiring an additional 1,525 shares during the last quarter. FWL Investment Management LLC bought a new position in shares of Quantum Computing during the second quarter valued at about $33,000. Finally, Newbridge Financial Services Group Inc. boosted its holdings in shares of Quantum Computing by 47.1% during the third 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. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on QUBT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a research note on Wednesday, June 24th. Wedbush began coverage on Quantum Computing in a research report on Monday, August 3rd. They issued a “neutral” rating and a $12.00 price objective on the stock. Rosenblatt Securities reissued a “buy” rating and set a $22.00 target price on shares of Quantum Computing in a research note on Monday, June 29th. Lake Street Capital restated a “buy” rating on shares of Quantum Computing in a report on Monday, July 6th. Finally, Ascendiant Capital Markets upped their target price on Quantum Computing from $30.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, August 26th. Four 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 stock. Based on data from MarketBeat.com, Quantum Computing has an average rating of “Hold” and an average price target of $18.67.

Quantum Computing Trading Down 2.7%

Shares of QUBT stock opened at $7.82 on Friday. Quantum Computing Inc. has a 12 month low of $6.18 and a 12 month high of $25.84. The stock has a market cap of $1.77 billion, a PE ratio of -111.70 and a beta of 3.78. The company’s fifty day moving average price is $8.37 and its 200-day moving average price is $8.85.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $5.55 million for the quarter, compared to the consensus estimate of $5.15 million. On average, sell-side analysts forecast that Quantum Computing Inc. will post -0.19 earnings per share for the current fiscal year.

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.