Anson Funds Management LP Boosts Holdings in Quantum Computing Inc. $QUBT

Anson Funds Management LP raised its position in Quantum Computing Inc. (NASDAQ:QUBT) by 14.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,373,455 shares of the company’s stock after acquiring an additional 695,092 shares during the quarter. Quantum Computing makes up about 8.2% of Anson Funds Management LP’s investment portfolio, making the stock its 2nd largest holding. Anson Funds Management LP’s holdings in Quantum Computing were worth $98,925,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of QUBT. Algert Global LLC raised its holdings in shares of Quantum Computing by 120.5% in the 3rd quarter. Algert Global LLC now owns 108,350 shares of the company’s stock valued at $1,995,000 after purchasing an additional 59,220 shares during the period. Alliancebernstein L.P. lifted its stake in Quantum Computing by 7.8% in the 3rd quarter. Alliancebernstein L.P. now owns 136,155 shares of the company’s stock valued at $2,507,000 after purchasing an additional 9,832 shares during the last quarter. Creative Planning bought a new position in Quantum Computing during the third quarter worth about $314,000. Polar Asset Management Partners Inc. increased its position in Quantum Computing by 72.3% during the third quarter. Polar Asset Management Partners Inc. now owns 2,686,727 shares of the company’s stock worth $48,643,000 after buying an additional 1,127,427 shares during the last quarter. Finally, Ancora Advisors LLC acquired a new position in Quantum Computing during the third quarter worth approximately $101,000. Institutional investors own 4.26% of the company’s stock.

Quantum Computing Stock Performance

NASDAQ:QUBT opened at $7.30 on Friday. Quantum Computing Inc. has a 52 week low of $5.76 and a 52 week high of $25.84. The firm’s 50-day simple moving average is $9.65 and its 200 day simple moving average is $13.10. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -48.67 and a beta of 3.51.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The business had revenue of $0.20 million during the quarter, compared to the consensus estimate of $0.39 million.

Insider Buying and Selling

In other news, COO Milan Begliarbekov sold 2,860 shares of Quantum Computing stock in a transaction that occurred on 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 sale, the chief operating officer directly owned 24,240 shares in the company, valued at approximately $287,244. The trade was a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher Bruce Roberts sold 9,360 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $7.85, for a total value of $73,476.00. Following the completion of the sale, the chief financial officer owned 1,123,038 shares of the company’s stock, valued at approximately $8,815,848.30. This trade represents a 0.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 81,122 shares of company stock valued at $648,248. 19.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Ascendiant Capital Markets cut their price objective 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. Rosenblatt Securities reissued a “buy” rating and set a $22.00 target price on shares of Quantum Computing in a report on Tuesday, March 3rd. Wedbush initiated coverage on Quantum Computing in a research note on Wednesday, December 17th. They issued a “neutral” rating and a $12.00 price target on the stock. Cantor Fitzgerald cut their price target on Quantum Computing from $15.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Finally, Wall Street Zen cut shares of Quantum Computing from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Quantum Computing presently has an average rating of “Hold” and an average price target of $17.00.

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.