Pacific Heights Asset Management LLC Acquires 250,000 Shares of Quantum Computing Inc. $QUBT

Pacific Heights Asset Management LLC raised its holdings in shares of Quantum Computing Inc. (NASDAQ:QUBT) by 62.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 650,000 shares of the company’s stock after acquiring an additional 250,000 shares during the period. Pacific Heights Asset Management LLC’s holdings in Quantum Computing were worth $11,966,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. J.W. Cole Advisors Inc. boosted its holdings in Quantum Computing by 3.8% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 21,070 shares of the company’s stock valued at $404,000 after acquiring an additional 770 shares during the period. Compagnie Lombard Odier SCmA lifted its position in Quantum Computing by 53.5% in the second quarter. Compagnie Lombard Odier SCmA now owns 2,870 shares of the company’s stock valued at $55,000 after purchasing an additional 1,000 shares during the last quarter. Toth Financial Advisory Corp boosted its stake in shares of Quantum Computing by 100.0% during the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the company’s stock valued at $37,000 after purchasing an additional 1,000 shares during the period. Gladstone Institutional Advisory LLC grew its holdings in shares of Quantum Computing by 9.3% in the third quarter. Gladstone Institutional Advisory LLC now owns 12,975 shares of the company’s stock worth $239,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Global Retirement Partners LLC increased its stake in shares of Quantum Computing by 12.5% in the third quarter. Global Retirement Partners LLC now owns 10,055 shares of the company’s stock worth $185,000 after buying an additional 1,115 shares during the period. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Insider Buying and Selling at Quantum Computing

In related news, COO Milan Begliarbekov sold 2,860 shares of Quantum Computing stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $11.85, for a total transaction of $33,891.00. Following the sale, the chief operating officer directly owned 24,240 shares in the company, valued at $287,244. The trade was a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 19.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on QUBT shares. 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. Rosenblatt Securities began coverage on shares of Quantum Computing in a report on Thursday, January 15th. They set a “buy” rating and a $22.00 target price for the company. Wedbush started coverage on Quantum Computing in a research note on Wednesday, December 17th. They issued a “neutral” rating and a $12.00 target price on the stock. Ascendiant Capital Markets lowered their price target on Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, December 22nd. Finally, Lake Street Capital dropped their price objective on Quantum Computing from $24.00 to $16.00 and set a “buy” rating for the company in a report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Quantum Computing has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Quantum Computing Trading Up 4.3%

Shares of QUBT opened at $12.70 on Tuesday. Quantum Computing Inc. has a 1-year low of $4.37 and a 1-year high of $25.84. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of -20.82 and a beta of 3.49. The firm’s 50-day moving average price is $11.57 and its 200-day moving average price is $15.23.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $0.38 million for the quarter, compared to the consensus estimate 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.