Van ECK Associates Corp grew its holdings in Quantum Computing Inc. (NASDAQ:QUBT – Free Report) by 35.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,317,352 shares of the company’s stock after acquiring an additional 345,750 shares during the quarter. Van ECK Associates Corp’s holdings in Quantum Computing were worth $12,778,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Quantum Computing by 38.1% in 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 during the last quarter. SLT Holdings LLC lifted its holdings in shares of Quantum Computing by 1,028.7% during the fourth quarter. SLT Holdings LLC now owns 169,300 shares of the company’s stock worth $1,737,000 after buying an additional 154,300 shares during the last quarter. Focus Financial Network Inc. boosted its position in shares of Quantum Computing by 402.6% in the second quarter. Focus Financial Network Inc. now owns 911,635 shares of the company’s stock valued at $8,843,000 after acquiring an additional 730,240 shares during the period. BlackRock Inc. bought a new stake in shares of Quantum Computing in the second quarter valued at approximately $172,020,000. Finally, Pacific Heights Asset Management LLC grew its stake in shares of Quantum Computing by 38.5% in the fourth quarter. Pacific Heights Asset Management LLC now owns 900,000 shares of the company’s stock worth $9,234,000 after acquiring an additional 250,000 shares during the last quarter. 4.26% of the stock is currently owned by institutional investors.
Quantum Computing Trading Up 1.0%
Shares of NASDAQ QUBT opened at $8.23 on Tuesday. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -117.55 and a beta of 3.74. Quantum Computing Inc. has a one year low of $6.18 and a one year high of $25.84. The business has a fifty day simple moving average of $8.62 and a 200 day simple moving average of $8.86.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on QUBT shares. Wedbush initiated coverage on shares of Quantum Computing in a research report on Monday, August 3rd. They set a “neutral” rating and a $12.00 target price on the stock. Wall Street Zen lowered shares of Quantum Computing from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a report on Wednesday, June 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $22.00 price objective on shares of Quantum Computing in a research report on Monday, June 29th. Finally, Ascendiant Capital Markets increased their target price on shares of Quantum Computing from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.67.
Get Our Latest Analysis on QUBT
Quantum Computing Company 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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