Penserra Capital Management LLC Has $30.16 Million Stake in Quantum Computing Inc. $QUBT

Penserra Capital Management LLC increased its position in shares of Quantum Computing Inc. (NASDAQ:QUBT) by 60.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,638,054 shares of the company’s stock after purchasing an additional 618,594 shares during the period. Penserra Capital Management LLC owned approximately 0.73% of Quantum Computing worth $30,156,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in Quantum Computing by 116.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,630,525 shares of the company’s stock valued at $50,433,000 after buying an additional 1,416,928 shares in the last quarter. Focus Financial Network Inc. grew its stake in shares of Quantum Computing by 339.9% in the third quarter. Focus Financial Network Inc. now owns 1,117,431 shares of the company’s stock valued at $20,572,000 after acquiring an additional 863,394 shares in the last quarter. Invesco Ltd. bought a new position in Quantum Computing during the second quarter worth about $16,035,000. First Trust Advisors LP acquired a new stake in Quantum Computing in the 2nd quarter worth about $14,792,000. Finally, BNP Paribas Financial Markets bought a new stake in Quantum Computing in the 2nd quarter valued at about $11,262,000. 4.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

QUBT has been the topic of several recent research reports. Ascendiant Capital Markets lowered their target price on shares of Quantum Computing from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, December 22nd. Lake Street Capital reduced their price target on Quantum Computing from $24.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, November 17th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $15.00 price objective on shares of Quantum Computing in a report on Thursday, December 18th. Wedbush started coverage on Quantum Computing in a report on Wednesday, December 17th. They set a “neutral” rating and a $12.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a research report on Monday, December 29th. One equities research 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 assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Insider Buying and Selling

In other news, COO Milan Begliarbekov sold 2,860 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $11.85, for a total value of $33,891.00. Following the completion of the transaction, the chief operating officer owned 24,240 shares of the company’s stock, valued at approximately $287,244. This represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 19.30% of the company’s stock.

Quantum Computing Stock Performance

Shares of QUBT stock opened at $9.65 on Wednesday. The stock’s fifty day moving average price is $11.49 and its two-hundred day moving average price is $14.59. The company has a market cap of $2.16 billion, a PE ratio of -15.82 and a beta of 3.44. Quantum Computing Inc. has a fifty-two week low of $4.37 and a fifty-two week high of $25.84.

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

About Quantum Computing

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.