HighTower Advisors LLC Invests $320,000 in Quantum Computing Inc. (NASDAQ:QUBT)

HighTower Advisors LLC bought a new stake in Quantum Computing Inc. (NASDAQ:QUBT) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 19,356 shares of the company’s stock, valued at approximately $320,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. XTX Topco Ltd acquired a new stake in shares of Quantum Computing in the third quarter valued at approximately $46,000. Geode Capital Management LLC boosted its position in Quantum Computing by 10.5% during the third 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 during the period. Virtu Financial LLC increased its holdings in shares of Quantum Computing by 377.7% in the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after purchasing an additional 47,880 shares during the last quarter. Sovereign Financial Group Inc. bought a new position in shares of Quantum Computing in the fourth quarter valued at about $209,000. Finally, Diversify Wealth Management LLC acquired a new stake in shares of Quantum Computing during the 4th quarter worth about $331,000. Institutional investors own 4.26% of the company’s stock.

Quantum Computing Stock Performance

Shares of QUBT stock opened at $7.76 on Wednesday. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -26.76 and a beta of 3.26. Quantum Computing Inc. has a 52 week low of $0.35 and a 52 week high of $27.15. The company has a 50-day simple moving average of $7.90 and a 200 day simple moving average of $6.78.

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

Insiders Place Their Bets

In related news, insider Yuping Huang sold 200,000 shares of the company’s stock in a transaction dated 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 approximately $203,954,650.88. This represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 31.10% of the company’s stock.

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.