Quantum Computing Inc. $QUBT Shares Bought by Focus Financial Network Inc.

Focus Financial Network Inc. lifted its holdings in shares of Quantum Computing Inc. (NASDAQ:QUBT) by 339.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,117,431 shares of the company’s stock after acquiring an additional 863,394 shares during the quarter. Quantum Computing comprises approximately 0.7% of Focus Financial Network Inc.’s holdings, making the stock its 25th biggest holding. Focus Financial Network Inc.’s holdings in Quantum Computing were worth $20,572,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Quantum Computing by 116.8% in the second quarter. Geode Capital Management LLC now owns 2,630,525 shares of the company’s stock valued at $50,433,000 after purchasing an additional 1,416,928 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of Quantum Computing in the second quarter valued at about $19,543,000. Vanguard Group Inc. raised its holdings in shares of Quantum Computing by 24.0% during the 1st quarter. Vanguard Group Inc. now owns 5,191,404 shares of the company’s stock valued at $41,531,000 after buying an additional 1,004,675 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Quantum Computing during the 1st quarter worth approximately $7,084,000. Finally, Invesco Ltd. purchased a new position in Quantum Computing in the 2nd quarter worth approximately $16,035,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on QUBT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum Computing in a research note on Monday. Wedbush began coverage on shares of Quantum Computing in a research note on Wednesday. They set a “neutral” rating and a $12.00 price target on the stock. Wall Street Zen raised shares of Quantum Computing from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Ascendiant Capital Markets raised their target price on Quantum Computing from $22.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $15.00 price target on shares of Quantum Computing in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Quantum Computing has a consensus rating of “Hold” and a consensus target price of $20.75.

Quantum Computing Price Performance

NASDAQ QUBT opened at $10.89 on Friday. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of -17.85 and a beta of 3.80. Quantum Computing Inc. has a 12 month low of $4.37 and a 12 month high of $25.84. The company’s fifty day moving average price is $13.52 and its two-hundred day moving average price is $16.08.

Quantum Computing (NASDAQ:QUBT) last issued its earnings results on Friday, November 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The company had revenue of $0.38 million during the quarter, compared to analyst estimates of $0.12 million.

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.