47,517 Shares in Quantum Computing Inc. (NASDAQ:QUBT) Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC acquired a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,517 shares of the company’s stock, valued at approximately $786,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. XTX Topco Ltd acquired a new position in Quantum Computing in the 3rd quarter valued at approximately $46,000. Geode Capital Management LLC increased its holdings in Quantum Computing by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after purchasing an additional 65,486 shares in the last quarter. Virtu Financial LLC boosted its holdings in Quantum Computing by 377.7% during the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after acquiring an additional 47,880 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Quantum Computing in the fourth quarter valued at approximately $626,000. Finally, Diversify Wealth Management LLC bought a new stake in shares of Quantum Computing during the 4th quarter worth $331,000. Institutional investors own 4.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets lifted their target price on shares of Quantum Computing from $8.25 to $8.50 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.

Quantum Computing Price Performance

QUBT stock opened at $9.57 on Friday. The firm has a 50 day simple moving average of $11.90 and a two-hundred day simple moving average of $4.98. The stock has a market cap of $1.23 billion, a PE ratio of -33.00 and a beta of 2.75. Quantum Computing Inc. has a one year low of $0.35 and a one year high of $27.15.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter. The business had revenue of $0.10 million for the quarter.

About Quantum Computing

Quantum Computing Inc, an integrated photonics company, offers accessible and affordable quantum machines. The company offers Dirac systems are portable, low power, and room temperature qubit and qudit entropy quantum computers (EQC); reservoir computing; remote sensing; and single photon imaging. It also provides Quantum random number generator (uQRNG), a portable device that provides genuine random numbers directly from quantum processes; and quantum authentication which eliminates vulnerabilities inherent in classical cryptographic schemes by offering a comprehensive entanglement-based quantum cyber solution that seamlessly integrates into existing telecom fiber and communication infrastructure.