UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Position in Quantum Computing Inc. $QUBT

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Quantum Computing Inc. (NASDAQ:QUBT) by 28.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 321,236 shares of the company’s stock after acquiring an additional 70,775 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.14% of Quantum Computing worth $3,116,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. SLT Holdings LLC boosted its stake in Quantum Computing by 1,028.7% during the fourth quarter. SLT Holdings LLC now owns 169,300 shares of the company’s stock valued at $1,737,000 after buying an additional 154,300 shares during the period. Focus Financial Network Inc. increased its stake in Quantum Computing by 402.6% in the 2nd quarter. Focus Financial Network Inc. now owns 911,635 shares of the company’s stock worth $8,843,000 after acquiring an additional 730,240 shares during the last quarter. BlackRock Inc. bought a new position in Quantum Computing in the 2nd quarter worth about $172,020,000. Pacific Heights Asset Management LLC raised its holdings in shares of Quantum Computing by 38.5% in the 4th quarter. Pacific Heights Asset Management LLC now owns 900,000 shares of the company’s stock valued at $9,234,000 after acquiring an additional 250,000 shares in the last quarter. Finally, Corient Private Wealth LP purchased a new stake in shares of Quantum Computing in the 2nd quarter valued at about $1,286,000. 4.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Cantor Fitzgerald reissued a “neutral” rating and set a $10.00 price objective on shares of Quantum Computing in a report on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum Computing in a research note on Wednesday, June 24th. Ascendiant Capital Markets lifted their target price on shares of Quantum Computing from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Rosenblatt Securities reissued a “buy” rating and issued a $22.00 price target on shares of Quantum Computing in a research note on Monday, June 29th. Finally, Wall Street Zen lowered shares of Quantum Computing from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Quantum Computing presently has an average rating of “Hold” and a consensus target price of $18.67.

Quantum Computing Stock Performance

QUBT stock opened at $7.82 on Friday. The company has a market capitalization of $1.77 billion, a PE ratio of -111.70 and a beta of 3.78. Quantum Computing Inc. has a one year low of $6.18 and a one year high of $25.84. The company’s 50 day moving average price is $8.37 and its two-hundred day moving average price is $8.85.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The firm had revenue of $5.55 million for the quarter, compared to the consensus estimate of $5.15 million. On average, research analysts predict that Quantum Computing Inc. will post -0.19 EPS for the current year.

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.