SG Americas Securities LLC Sells 43,703 Shares of Quantum Computing Inc. $QUBT

SG Americas Securities LLC trimmed its position in shares of Quantum Computing Inc. (NASDAQ:QUBT) by 70.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,727 shares of the company’s stock after selling 43,703 shares during the period. SG Americas Securities LLC’s holdings in Quantum Computing were worth $359,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in QUBT. Nisa Investment Advisors LLC bought a new position in shares of Quantum Computing during the second quarter valued at approximately $28,000. Rhumbline Advisers purchased a new position in Quantum Computing during the 1st quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Quantum Computing in the 2nd quarter valued at $29,000. Allworth Financial LP bought a new position in Quantum Computing in the 2nd quarter valued at $42,000. Finally, Quarry LP purchased a new stake in Quantum Computing in the first quarter worth $55,000. Institutional investors own 4.26% of the company’s stock.

Quantum Computing Trading Up 2.7%

Shares of Quantum Computing stock opened at $11.77 on Friday. The stock’s fifty day moving average price is $16.16 and its 200-day moving average price is $16.05. The firm has a market cap of $2.64 billion, a P/E ratio of -17.30 and a beta of 3.82. Quantum Computing Inc. has a 12 month low of $4.37 and a 12 month high of $27.15.

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

Analyst Ratings Changes

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

Insider Activity

In related news, Director Robert B. Fagenson sold 35,000 shares of Quantum Computing stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $15.52, for a total transaction of $543,200.00. Following the transaction, the director directly owned 50,000 shares of the company’s stock, valued at $776,000. This trade represents a 41.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Javad Shabani sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $15.30, for a total transaction of $306,000.00. Following the completion of the transaction, the director directly owned 17,474 shares of the company’s stock, valued at $267,352.20. This trade represents a 53.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,137,474 shares of company stock worth $16,538,753. Corporate insiders own 19.30% of the company’s stock.

Quantum Computing Profile

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.