Comerica Bank Buys Shares of 3,350 Quantum Computing Inc. (NASDAQ:QUBT)

Comerica Bank acquired a new stake in shares of Quantum Computing Inc. (NASDAQ:QUBT) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 3,350 shares of the company’s stock, valued at approximately $55,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC purchased a new position in shares of Quantum Computing in the 4th quarter worth approximately $30,000. IFP Advisors Inc purchased a new position in Quantum Computing in the fourth quarter worth $33,000. Farther Finance Advisors LLC acquired a new position in shares of Quantum Computing during the fourth quarter worth $33,000. Archer Investment Corp purchased a new stake in shares of Quantum Computing during the 4th quarter valued at $33,000. Finally, Hollencrest Capital Management acquired a new stake in shares of Quantum Computing in the 4th quarter worth $41,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets upped their target price on Quantum Computing from $8.50 to $14.00 and gave the company a “buy” rating in a research report on Monday, April 28th.

Quantum Computing Trading Up 39.3%

NASDAQ:QUBT opened at $12.87 on Monday. Quantum Computing Inc. has a twelve month low of $0.35 and a twelve month high of $27.15. The company has a market cap of $1.81 billion, a PE ratio of -44.38 and a beta of 3.74. The company’s 50 day moving average is $7.45 and its two-hundred day moving average is $8.33.

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

Insiders Place Their Bets

In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $203,954,650.88. This trade represents a 0.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 19.30% 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.