Ieq Capital LLC Invests $364,000 in Quantum Computing Inc. $QUBT

Ieq Capital LLC acquired a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 45,522 shares of the company’s stock, valued at approximately $364,000.

A number of other institutional investors have also modified their holdings of QUBT. Rhumbline Advisers acquired a new position in shares of Quantum Computing in the 1st quarter valued at $28,000. Tower Research Capital LLC TRC acquired a new position in shares of Quantum Computing in the 4th quarter valued at $30,000. Hollencrest Capital Management increased its holdings in shares of Quantum Computing by 60.0% in the 1st quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $32,000 after acquiring an additional 1,500 shares during the period. KBC Group NV acquired a new position in Quantum Computing in the 1st quarter valued at $41,000. Finally, Comerica Bank acquired a new position in Quantum Computing in the 4th quarter valued at $55,000. 4.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Ascendiant Capital Markets boosted their price objective on shares of Quantum Computing from $14.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Cantor Fitzgerald assumed coverage on shares of Quantum Computing in a research note on Wednesday, July 2nd. They issued a “neutral” rating and a $15.00 price objective on the stock. Finally, Wall Street Zen cut shares of Quantum Computing from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Quantum Computing Stock Performance

Shares of NASDAQ QUBT opened at $15.11 on Friday. The firm has a market capitalization of $2.42 billion, a P/E ratio of -22.22 and a beta of 3.88. Quantum Computing Inc. has a one year low of $0.58 and a one year high of $27.15. The company’s fifty day moving average is $16.79 and its two-hundred day moving average is $12.10.

Quantum Computing (NASDAQ:QUBT) last issued its earnings results on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.10 million.

Insider Buying and Selling at Quantum Computing

In other Quantum Computing news, CFO Christopher Boehmler sold 46,440 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $20.00, for a total value of $928,800.00. Following the transaction, the chief financial officer directly owned 351,152 shares in the company, valued at approximately $7,023,040. This represents a 11.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Yuping Huang sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $14.41, for a total transaction of $14,410,000.00. Following the completion of the transaction, the chief executive officer owned 21,287,718 shares in the company, valued at approximately $306,756,016.38. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,537,046 shares of company stock valued at $23,045,791 in the last quarter. Insiders own 19.30% of the company’s stock.

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.