Deutsche Bank AG bought a new position in Quantum Computing Inc. (NASDAQ:QUBT – Free Report) during the second quarter, Holdings Channel reports. The firm bought 208,776 shares of the company’s stock, valued at approximately $2,025,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QUBT. Vanguard Group Inc. grew its holdings in Quantum Computing by 38.1% during the 4th quarter. Vanguard Group Inc. now owns 16,841,423 shares of the company’s stock valued at $172,793,000 after buying an additional 4,643,818 shares in the last quarter. Marex Group plc raised its holdings in shares of Quantum Computing by 255.6% during the 4th quarter. Marex Group plc now owns 8,272,153 shares of the company’s stock worth $84,872,000 after acquiring an additional 5,945,679 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Quantum Computing during the 3rd quarter valued at approximately $123,014,000. Geode Capital Management LLC boosted its position in shares of Quantum Computing by 45.5% during the 4th quarter. Geode Capital Management LLC now owns 4,565,192 shares of the company’s stock valued at $46,846,000 after acquiring an additional 1,428,120 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Quantum Computing by 44.1% in the fourth quarter. State Street Corp now owns 4,344,023 shares of the company’s stock valued at $44,570,000 after purchasing an additional 1,329,433 shares in the last quarter. 4.26% of the stock is owned by institutional investors.
Quantum Computing Price Performance
Quantum Computing stock opened at $8.15 on Friday. Quantum Computing Inc. has a 1-year low of $6.18 and a 1-year high of $25.84. The firm has a market capitalization of $1.84 billion, a P/E ratio of -116.41 and a beta of 3.74. The company’s 50-day moving average is $8.67 and its 200 day moving average is $8.87.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on QUBT. Cantor Fitzgerald restated a “neutral” rating and issued a $10.00 price target on shares of Quantum Computing in a research report on Tuesday, August 11th. Ascendiant Capital Markets increased their price objective on shares of Quantum Computing from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday. Wedbush started coverage on shares of Quantum Computing in a research note on Monday, August 3rd. They issued a “neutral” rating and a $12.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a report on Wednesday, June 24th. Finally, Rosenblatt Securities restated a “buy” rating and set a $22.00 target price on shares of Quantum Computing in a research report on Monday, June 29th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Quantum Computing has a consensus rating of “Hold” and a consensus target price of $18.67.
Read Our Latest Research Report on Quantum Computing
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.
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