Raymond James Financial Inc. Makes New $1.92 Million Investment in Quantum Computing Inc. (NASDAQ:QUBT)

Raymond James Financial Inc. purchased a new stake in Quantum Computing Inc. (NASDAQ:QUBT) in the 4th quarter, Holdings Channel reports. The fund purchased 116,273 shares of the company’s stock, valued at approximately $1,924,000.

Other hedge funds have also modified their holdings of the company. UNICOM Systems Inc. acquired a new position in Quantum Computing during the fourth quarter worth $5,707,000. Mission Wealth Management LP purchased a new stake in shares of Quantum Computing during the 4th quarter worth $1,986,000. SBI Securities Co. Ltd. acquired a new position in shares of Quantum Computing during the 4th quarter worth $1,602,000. Focus Financial Network Inc. purchased a new position in shares of Quantum Computing in the 4th quarter valued at about $1,536,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Quantum Computing in the 4th quarter valued at about $1,255,000. 4.26% of the stock is owned by institutional investors and hedge funds.

Quantum Computing Trading Down 5.3 %

QUBT stock opened at $8.00 on Tuesday. The company’s 50-day moving average price is $7.98 and its 200 day moving average price is $6.73. Quantum Computing Inc. has a 52 week low of $0.35 and a 52 week high of $27.15. The company has a market cap of $1.10 billion, a P/E ratio of -27.59 and a beta of 3.26.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings results 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 firm had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.20 million. During the same period last year, the firm posted ($0.09) EPS.

Insider Buying and Selling

In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $8.48, for a total transaction of $1,696,000.00. Following the completion of the transaction, the insider now directly owns 24,051,256 shares in the company, valued at approximately $203,954,650.88. This trade represents a 0.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 31.10% of the stock is currently owned by insiders.

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.