SLT Holdings LLC Buys 36,500 Shares of Quantum Computing Inc. $QUBT

SLT Holdings LLC increased its stake in Quantum Computing Inc. (NASDAQ:QUBT) by 111.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,250 shares of the company’s stock after acquiring an additional 36,500 shares during the period. Quantum Computing comprises about 1.0% of SLT Holdings LLC’s holdings, making the stock its 22nd largest holding. SLT Holdings LLC’s holdings in Quantum Computing were worth $1,328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of QUBT. Cambridge Investment Research Advisors Inc. lifted its position in Quantum Computing by 159.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 33,724 shares of the company’s stock valued at $270,000 after purchasing an additional 20,731 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Quantum Computing during the 1st quarter valued at $798,000. Teacher Retirement System of Texas bought a new stake in Quantum Computing during the 1st quarter valued at $136,000. Vanguard Group Inc. raised its holdings in Quantum Computing by 24.0% during the 1st quarter. Vanguard Group Inc. now owns 5,191,404 shares of the company’s stock valued at $41,531,000 after buying an additional 1,004,675 shares during the last quarter. Finally, Swiss National Bank bought a new stake in Quantum Computing during the 1st quarter valued at $1,806,000. Institutional investors own 4.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on QUBT. Wall Street Zen downgraded shares of Quantum Computing from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 16th. Lake Street Capital initiated coverage on Quantum Computing in a research report on Thursday, September 18th. They set a “buy” rating and a $24.00 price target for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Quantum Computing in a research report on Wednesday. Ascendiant Capital Markets upped their target price on Quantum Computing from $22.00 to $40.00 and gave the company a “buy” rating in a report on Friday, October 3rd. Finally, Cantor Fitzgerald started coverage on Quantum Computing in a report on Wednesday, July 2nd. They set a “neutral” rating and a $15.00 target price for the company. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.33.

Quantum Computing Stock Performance

Shares of NASDAQ:QUBT opened at $19.01 on Friday. The stock has a 50 day moving average price of $17.43 and a 200-day moving average price of $14.28. The firm has a market capitalization of $3.55 billion, a P/E ratio of -27.96 and a beta of 3.85. Quantum Computing Inc. has a 52-week low of $0.67 and a 52-week high of $27.15.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.10 million.

Insider Buying and Selling

In other Quantum Computing news, CRO Pouya Dianat sold 17,175 shares of the firm’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $15.53, for a total transaction of $266,727.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Yuping Huang sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $14.41, for a total transaction of $14,410,000.00. Following the sale, the chief executive officer owned 21,287,718 shares of the company’s stock, valued at approximately $306,756,016.38. This represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,154,649 shares of company stock worth $16,805,481 in the last 90 days. 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.