Raymond James Financial Inc. Acquires Shares of 116,273 Quantum Computing Inc. (NASDAQ:QUBT)

Raymond James Financial Inc. bought a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 116,273 shares of the company’s stock, valued at approximately $1,924,000. Raymond James Financial Inc. owned approximately 0.09% of Quantum Computing as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. purchased a new position in Quantum Computing during the 4th quarter worth approximately $190,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $506,000. Mission Wealth Management LP purchased a new position in shares of Quantum Computing during the fourth quarter worth approximately $1,986,000. SBI Securities Co. Ltd. acquired a new position in shares of Quantum Computing in the 4th quarter valued at $1,602,000. Finally, Modera Wealth Management LLC acquired a new position in shares of Quantum Computing in the 4th quarter valued at $662,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Quantum Computing

In related news, insider Yuping Huang sold 200,000 shares of Quantum Computing stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $8.48, for a total value of $1,696,000.00. Following the transaction, the insider now directly owns 24,051,256 shares in the company, valued at $203,954,650.88. This trade represents a 0.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 31.10% of the stock is owned by company insiders.

Quantum Computing Price Performance

Shares of NASDAQ:QUBT opened at $8.00 on Tuesday. Quantum Computing Inc. has a 1-year low of $0.35 and a 1-year high of $27.15. The stock has a market cap of $1.10 billion, a P/E ratio of -27.59 and a beta of 3.26. The firm has a fifty day moving average price of $7.98 and a 200 day moving average price of $6.73.

Quantum Computing (NASDAQ:QUBT) last announced its earnings results on Thursday, March 20th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.42). The firm had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.20 million. During the same period last year, the firm earned ($0.09) earnings per share.

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.