Chicago Partners Investment Group LLC Takes $267,000 Position in Quantum Computing Inc. $QUBT

Chicago Partners Investment Group LLC purchased a new stake in shares of Quantum Computing Inc. (NASDAQ:QUBT) during the 2nd quarter, HoldingsChannel reports. The fund purchased 15,279 shares of the company’s stock, valued at approximately $267,000.

Other hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Quantum Computing during the 2nd quarter valued at $29,000. Compagnie Lombard Odier SCmA grew its holdings in shares of Quantum Computing by 53.5% in the 2nd quarter. Compagnie Lombard Odier SCmA now owns 2,870 shares of the company’s stock worth $55,000 after acquiring an additional 1,000 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of Quantum Computing in the 1st quarter worth $28,000. Hollencrest Capital Management grew its holdings in shares of Quantum Computing by 60.0% in the 1st quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $32,000 after acquiring an additional 1,500 shares during the last quarter. Finally, KBC Group NV acquired a new position in shares of Quantum Computing in the 1st quarter worth $41,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Quantum Computing

In related news, Director Javad Shabani sold 17,474 shares of Quantum Computing stock in a transaction on Monday, September 8th. The stock was sold at an average price of $15.26, for a total transaction of $266,653.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert B. Fagenson sold 5,000 shares of Quantum Computing stock in a transaction on Monday, September 15th. The shares were sold at an average price of $16.88, for a total value of $84,400.00. The disclosure for this sale can be found here. Insiders sold a total of 1,154,649 shares of company stock worth $16,805,481 in the last ninety days. Company insiders own 19.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wall Street Zen cut Quantum Computing from a “hold” rating to a “strong sell” rating in a report on Saturday, August 16th. Cantor Fitzgerald assumed coverage on Quantum Computing in a report on Wednesday, July 2nd. They issued a “neutral” rating and a $15.00 target price on the stock. Ascendiant Capital Markets lifted their target price on Quantum Computing from $22.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Quantum Computing in a report on Wednesday, October 8th. Finally, Lake Street Capital began coverage on Quantum Computing in a report on Thursday, September 18th. They issued a “buy” rating and a $24.00 target price on the stock. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.33.

Quantum Computing Trading Down 2.6%

Shares of QUBT stock opened at $15.53 on Friday. Quantum Computing Inc. has a 1-year low of $1.03 and a 1-year high of $27.15. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of -22.84 and a beta of 3.85. The stock’s fifty day simple moving average is $17.84 and its 200-day simple moving average is $15.01.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). The business had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.10 million.

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.