Corient Private Wealth LP Makes New $1.29 Million Investment in Quantum Computing Inc. $QUBT

Corient Private Wealth LP purchased a new stake in Quantum Computing Inc. (NASDAQ:QUBT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 132,594 shares of the company’s stock, valued at approximately $1,286,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in shares of Quantum Computing during the 4th quarter worth approximately $26,000. Rhumbline Advisers purchased a new position in shares of Quantum Computing during the first quarter valued at approximately $28,000. Tucker Asset Management LLC purchased a new stake in Quantum Computing in the 4th quarter valued at about $29,000. State of Wyoming purchased a new stake in shares of Quantum Computing during the second quarter valued at approximately $29,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in Quantum Computing in the second quarter valued at about $29,000. 4.26% of the stock is currently owned by institutional investors.

Quantum Computing Price Performance

Shares of Quantum Computing stock opened at $8.01 on Friday. The company has a 50-day moving average of $8.49 and a 200 day moving average of $8.84. Quantum Computing Inc. has a 1 year low of $6.18 and a 1 year high of $25.84. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of -114.41 and a beta of 3.78.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $5.55 million during the quarter, compared to the consensus estimate of $5.15 million. On average, equities analysts anticipate that Quantum Computing Inc. will post -0.19 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Lake Street Capital reaffirmed a “buy” rating on shares of Quantum Computing in a report on Monday, July 6th. Wall Street Zen lowered shares of Quantum Computing from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Ascendiant Capital Markets raised their price objective on shares of Quantum Computing from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum Computing in a research report on Wednesday, June 24th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $10.00 target price on shares of Quantum Computing in a research note on Tuesday, August 11th. Four equities research 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. According to MarketBeat, Quantum Computing presently has an average rating of “Hold” and an average price target of $18.67.

Quantum Computing Company 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.