Compagnie Lombard Odier SCmA Purchases 1,000 Shares of Quantum Computing Inc. $QUBT

Compagnie Lombard Odier SCmA grew its position in Quantum Computing Inc. (NASDAQ:QUBT) by 53.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,870 shares of the company’s stock after acquiring an additional 1,000 shares during the period. Compagnie Lombard Odier SCmA’s holdings in Quantum Computing were worth $55,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of QUBT. Ameriprise Financial Inc. acquired a new stake in Quantum Computing in the 4th quarter valued at about $712,000. Bank of America Corp DE raised its stake in Quantum Computing by 67,931.3% in the fourth quarter. Bank of America Corp DE now owns 367,369 shares of the company’s stock valued at $6,080,000 after buying an additional 366,829 shares during the period. Cetera Investment Advisers bought a new stake in Quantum Computing in the fourth quarter valued at approximately $584,000. Millennium Management LLC acquired a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $2,772,000. Finally, Two Sigma Investments LP bought a new position in shares of Quantum Computing during the 4th quarter worth approximately $657,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

Quantum Computing Price Performance

NASDAQ QUBT opened at $21.41 on Wednesday. The business has a fifty day moving average price of $16.45 and a two-hundred day moving average price of $13.10. The stock has a market capitalization of $3.42 billion, a PE ratio of -31.48 and a beta of 3.88. Quantum Computing Inc. has a fifty-two week low of $0.64 and a fifty-two week high of $27.15.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The business had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.10 million.

Insider Activity at Quantum Computing

In related news, Director Robert B. Fagenson sold 35,000 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $15.52, for a total value of $543,200.00. Following the completion of the transaction, the director owned 50,000 shares of the company’s stock, valued at $776,000. This represents a 41.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Pouya Dianat sold 17,175 shares of the business’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $15.53, for a total transaction of $266,727.75. The disclosure for this sale can be found here. Insiders sold a total of 1,154,649 shares of company stock worth $16,805,481 over the last three months. 19.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on QUBT shares. Lake Street Capital began coverage on Quantum Computing in a research note on Thursday, September 18th. They issued a “buy” rating and a $24.00 price target on the stock. Cantor Fitzgerald began coverage on shares of Quantum Computing in a research note on Wednesday, July 2nd. They set a “neutral” rating and a $15.00 target price for the company. Ascendiant Capital Markets lifted their target price on shares of Quantum Computing from $14.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, June 6th. Finally, Wall Street Zen cut Quantum Computing from a “hold” rating to a “strong sell” rating in a report on Saturday, August 16th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Quantum Computing currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.33.

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.