83,161 Shares in Quantum Computing Inc. $QUBT Purchased by Sassicaia Capital Advisers LLC

Sassicaia Capital Advisers LLC acquired a new stake in Quantum Computing Inc. (NASDAQ:QUBT) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 83,161 shares of the company’s stock, valued at approximately $1,594,000. Quantum Computing accounts for about 1.0% of Sassicaia Capital Advisers LLC’s investment portfolio, making the stock its 11th largest holding.

A number of other institutional investors and hedge funds have also recently made changes to their positions in QUBT. Vanguard Group Inc. increased its holdings in shares of Quantum Computing by 24.0% during the first quarter. Vanguard Group Inc. now owns 5,191,404 shares of the company’s stock worth $41,531,000 after purchasing an additional 1,004,675 shares during the period. Geode Capital Management LLC grew its position in Quantum Computing by 116.8% during the second quarter. Geode Capital Management LLC now owns 2,630,525 shares of the company’s stock worth $50,433,000 after buying an additional 1,416,928 shares in the last quarter. Penserra Capital Management LLC bought a new position in Quantum Computing during the 2nd quarter worth $19,543,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Quantum Computing in the 1st quarter valued at $7,084,000. Finally, Invesco Ltd. bought a new stake in shares of Quantum Computing during the 2nd quarter valued at $16,035,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on QUBT shares. Ascendiant Capital Markets raised their price target on Quantum Computing from $22.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Wall Street Zen raised shares of Quantum Computing from a “strong sell” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a research report on Monday. Finally, Lake Street Capital reduced their price target on shares of Quantum Computing from $24.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, November 17th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $23.67.

Insiders Place Their Bets

In other news, Director Robert B. Fagenson sold 5,000 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $16.88, for a total transaction of $84,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Javad Shabani sold 17,474 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $15.26, for a total value of $266,653.24. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 117,474 shares of company stock worth $1,822,753. Insiders own 19.30% of the company’s stock.

Quantum Computing Trading Down 5.4%

Shares of NASDAQ QUBT opened at $12.84 on Friday. The company has a market cap of $2.88 billion, a price-to-earnings ratio of -21.05 and a beta of 3.80. Quantum Computing Inc. has a 12 month low of $4.37 and a 12 month high of $27.15. The stock has a 50-day moving average price of $15.30 and a two-hundred day moving average price of $16.11.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $0.38 million for the quarter, compared to the consensus estimate of $0.12 million.

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.