Farther Finance Advisors LLC Buys New Holdings in Quantum Computing Inc. (NASDAQ:QUBT)

Farther Finance Advisors LLC purchased a new position in Quantum Computing Inc. (NASDAQ:QUBT) during the fourth quarter, HoldingsChannel reports. The fund purchased 2,000 shares of the company’s stock, valued at approximately $33,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in shares of Quantum Computing by 10.5% in the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after buying an additional 65,486 shares in the last quarter. UNICOM Systems Inc. bought a new stake in Quantum Computing in the 4th quarter valued at $5,707,000. Mission Wealth Management LP purchased a new stake in Quantum Computing in the 4th quarter worth $1,986,000. Raymond James Financial Inc. bought a new position in shares of Quantum Computing during the 4th quarter valued at about $1,924,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Quantum Computing during the fourth quarter valued at about $1,602,000. 4.26% of the stock is currently owned by institutional investors.

Quantum Computing Trading Up 18.4 %

Shares of QUBT stock opened at $8.75 on Tuesday. The stock’s 50-day moving average price is $8.15 and its 200-day moving average price is $6.46. Quantum Computing Inc. has a 12-month low of $0.35 and a 12-month high of $27.15. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -30.17 and a beta of 3.26.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings data on Thursday, March 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.42). The business had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.20 million. During the same quarter last year, the firm posted ($0.09) earnings per share.

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.