Modera Wealth Management LLC Makes New Investment in Quantum Computing Inc. $QUBT

Modera Wealth Management LLC bought a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 85,726 shares of the company’s stock, valued at approximately $880,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in Quantum Computing by 724.7% during the third quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company’s stock worth $28,000 after acquiring an additional 1,319 shares during the last quarter. FWL Investment Management LLC acquired a new stake in shares of Quantum Computing in the second quarter valued at $33,000. New Millennium Group LLC acquired a new stake in shares of Quantum Computing in the third quarter valued at $36,000. Toth Financial Advisory Corp grew its stake in shares of Quantum Computing by 100.0% in the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the company’s stock valued at $37,000 after buying an additional 1,000 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Quantum Computing in the third quarter valued at $39,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on QUBT shares. Cantor Fitzgerald dropped their price objective on Quantum Computing from $15.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Quantum Computing in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum Computing in a research note on Friday, March 27th. Ascendiant Capital Markets dropped their price objective on Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, December 22nd. Finally, Wall Street Zen cut Quantum Computing from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $17.00.

Quantum Computing Trading Up 2.4%

NASDAQ:QUBT opened at $6.93 on Thursday. The firm has a market cap of $1.56 billion, a PE ratio of -46.20 and a beta of 3.67. The stock has a fifty day moving average price of $7.90 and a 200 day moving average price of $11.92. Quantum Computing Inc. has a 12-month low of $5.76 and a 12-month high of $25.84.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The business had revenue of $0.20 million for the quarter, compared to analysts’ expectations of $0.39 million.

Insider Transactions at Quantum Computing

In other Quantum Computing news, CFO Christopher Bruce Roberts sold 9,360 shares of Quantum Computing stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $7.85, for a total transaction of $73,476.00. Following the completion of the sale, the chief financial officer directly owned 1,123,038 shares of the company’s stock, valued at $8,815,848.30. The trade was a 0.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 19.30% of the stock is owned by company insiders.

Quantum Computing Profile

Quantum Computing Inc (NASDAQ: QUBT) is a provider of quantum computing and quantum-inspired algorithm solutions, headquartered in the United States with research and development operations in Europe. Originally incorporated as Unigrid Software in 2019, the company rebranded in 2021 to reflect its strategic focus on commercializing emerging quantum technologies for enterprise and government customers.

The company’s flagship product, Qatalyst, is a quantum-inspired optimization platform that applies advanced heuristic solvers to address complex combinatorial problems in logistics, supply chain management, finance and other data-intensive fields.