IFP Advisors Inc Takes $33,000 Position in Quantum Computing Inc. (NASDAQ:QUBT)

IFP Advisors Inc purchased a new stake in Quantum Computing Inc. (NASDAQ:QUBT) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 2,000 shares of the company’s stock, valued at approximately $33,000.

Several other hedge funds and other institutional investors have also modified their holdings of QUBT. Archer Investment Corp acquired a new position in Quantum Computing during the 4th quarter valued at about $33,000. SRH Advisors LLC acquired a new position in Quantum Computing during the 4th quarter valued at about $69,000. Capital Advisors Inc. OK acquired a new position in Quantum Computing during the 4th quarter valued at about $166,000. Essex Financial Services Inc. acquired a new position in Quantum Computing during the 4th quarter valued at about $174,000. Finally, Flagship Harbor Advisors LLC acquired a new position in Quantum Computing during the 4th quarter valued at about $199,000. 4.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Quantum Computing Trading Up 3.3 %

Shares of NASDAQ:QUBT opened at $5.03 on Friday. The company has a 50 day moving average of $10.07 and a 200-day moving average of $5.88. The firm has a market cap of $690.00 million, a P/E ratio of -17.34 and a beta of 3.26. Quantum Computing Inc. has a twelve month low of $0.35 and a twelve month high of $27.15.

Quantum Computing Profile

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.