Landscape Capital Management L.L.C. Acquires Shares of 381,046 Quantum Computing Inc. $QUBT

Landscape Capital Management L.L.C. bought a new position in Quantum Computing Inc. (NASDAQ:QUBT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 381,046 shares of the company’s stock, valued at approximately $3,696,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada boosted its position in shares of Quantum Computing by 57.1% during the first quarter. Royal Bank of Canada now owns 53,752 shares of the company’s stock valued at $430,000 after purchasing an additional 19,527 shares in the last quarter. Millennium Management LLC grew its stake in Quantum Computing by 288.9% in the first quarter. Millennium Management LLC now owns 651,455 shares of the company’s stock worth $5,212,000 after purchasing an additional 483,940 shares during the period. Goldman Sachs Group Inc. raised its holdings in Quantum Computing by 0.7% in the first quarter. Goldman Sachs Group Inc. now owns 326,278 shares of the company’s stock worth $2,610,000 after purchasing an additional 2,280 shares in the last quarter. Rhumbline Advisers bought a new position in Quantum Computing in the first quarter worth $28,000. Finally, JPMorgan Chase & Co. lifted its position in Quantum Computing by 12,826.8% during the second quarter. JPMorgan Chase & Co. now owns 54,551 shares of the company’s stock valued at $1,046,000 after buying an additional 54,129 shares during the period. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on QUBT shares. Cantor Fitzgerald restated a “neutral” rating and set a $10.00 target price on shares of Quantum Computing in a report on Tuesday, August 11th. Lake Street Capital reiterated a “buy” rating on shares of Quantum Computing in a research note on Monday, July 6th. Ascendiant Capital Markets lifted their price target on shares of Quantum Computing from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a research note on Wednesday, June 24th. Finally, Wall Street Zen cut shares of Quantum Computing from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.33.

Quantum Computing Trading Up 9.5%

NASDAQ QUBT opened at $8.91 on Friday. Quantum Computing Inc. has a 12 month low of $6.18 and a 12 month high of $25.84. The stock has a market cap of $2.02 billion, a P/E ratio of -127.27 and a beta of 3.74. The stock’s fifty day moving average price is $8.88 and its 200-day moving average price is $8.90.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The firm had revenue of $5.55 million during the quarter, compared to analysts’ expectations of $5.15 million. As a group, analysts forecast that Quantum Computing Inc. will post -0.18 earnings per share for the current fiscal year.

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.