Quantum Computing Inc. $QUBT Shares Sold by SLT Holdings LLC

SLT Holdings LLC reduced its stake in Quantum Computing Inc. (NASDAQ:QUBT) by 78.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 15,000 shares of the company’s stock after selling 54,250 shares during the period. SLT Holdings LLC’s holdings in Quantum Computing were worth $276,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Nisa Investment Advisors LLC acquired a new position in shares of Quantum Computing during the 2nd quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Quantum Computing in the 2nd quarter valued at about $29,000. Farther Finance Advisors LLC increased its holdings in shares of Quantum Computing by 724.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company’s stock worth $28,000 after buying an additional 1,319 shares during the last quarter. FWL Investment Management LLC acquired a new position in Quantum Computing in the second quarter valued at approximately $33,000. Finally, Toth Financial Advisory Corp grew its position in Quantum Computing by 100.0% in the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the company’s stock worth $37,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on QUBT shares. Ascendiant Capital Markets decreased their price target on Quantum Computing from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, December 22nd. Wall Street Zen raised shares of Quantum Computing from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $15.00 price target on shares of Quantum Computing in a research report on Thursday, December 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a research note on Monday, December 29th. Finally, Wedbush began coverage on shares of Quantum Computing in a research report on Wednesday, December 17th. They set a “neutral” rating and a $12.00 price objective for the company. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Quantum Computing presently has an average rating of “Hold” and an average price target of $17.00.

Quantum Computing Price Performance

Shares of NASDAQ:QUBT opened at $11.65 on Thursday. The firm has a market capitalization of $2.61 billion, a PE ratio of -19.10 and a beta of 3.49. Quantum Computing Inc. has a 1 year low of $4.37 and a 1 year high of $25.84. The firm’s 50-day moving average is $11.89 and its two-hundred day moving average is $15.59.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $0.38 million during the quarter, compared to analyst estimates of $0.12 million.

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.