Quantum Computing Inc. $QUBT Holdings Lifted by Focus Financial Network Inc.

Focus Financial Network Inc. increased its position in shares of Quantum Computing Inc. (NASDAQ:QUBT) by 402.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 911,635 shares of the company’s stock after acquiring an additional 730,240 shares during the period. Focus Financial Network Inc. owned approximately 0.40% of Quantum Computing worth $8,843,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of QUBT. FWL Investment Management LLC bought a new position in shares of Quantum Computing during the 2nd quarter valued at about $33,000. Triumph Capital Management bought a new stake in shares of Quantum Computing in the 3rd quarter worth approximately $45,000. International Assets Investment Management LLC acquired a new stake in Quantum Computing during the fourth quarter valued at approximately $26,000. Tucker Asset Management LLC acquired a new stake in Quantum Computing during the fourth quarter valued at approximately $29,000. Finally, Horizon Investments LLC bought a new stake in Quantum Computing during the third quarter worth approximately $55,000. 4.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on QUBT. Rosenblatt Securities restated a “buy” rating and issued a $22.00 price target on shares of Quantum Computing in a research report on Monday, June 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum Computing in a research report on Wednesday, June 24th. Northland Securities assumed coverage on Quantum Computing in a research note on Monday, April 20th. They set an “outperform” rating and a $20.00 price objective for the company. Wedbush assumed coverage on Quantum Computing in a report on Monday, August 3rd. They issued a “neutral” rating and a $12.00 target price on the stock. Finally, Wall Street Zen lowered Quantum Computing from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Quantum Computing presently has an average rating of “Hold” and an average target price of $18.33.

Quantum Computing Price Performance

QUBT stock opened at $9.18 on Monday. The firm has a market capitalization of $2.07 billion, a P/E ratio of -32.78 and a beta of 3.74. Quantum Computing Inc. has a 52-week low of $6.18 and a 52-week high of $25.84. The company’s 50 day simple moving average is $9.25 and its 200-day simple moving average is $9.04.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $3.69 million during the quarter, compared to analyst estimates of $3.13 million. Sell-side analysts predict that Quantum Computing Inc. will post -0.14 EPS for the current fiscal year.

Quantum Computing Company 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.