Headlands Technologies LLC Sells 122,297 Shares of Quantum Computing Inc. $QUBT

Headlands Technologies LLC trimmed its holdings in shares of Quantum Computing Inc. (NASDAQ:QUBT) by 44.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 154,901 shares of the company’s stock after selling 122,297 shares during the quarter. Headlands Technologies LLC’s holdings in Quantum Computing were worth $1,503,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in QUBT. International Assets Investment Management LLC purchased a new position in Quantum Computing in the fourth quarter worth about $26,000. Rhumbline Advisers purchased a new stake in Quantum Computing during the first quarter valued at approximately $28,000. Tucker Asset Management LLC bought a new stake in shares of Quantum Computing in the 4th quarter valued at approximately $29,000. State of Wyoming bought a new stake in shares of Quantum Computing in the 2nd quarter valued at approximately $29,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in shares of Quantum Computing in the 2nd quarter worth approximately $29,000. Institutional investors own 4.26% of the company’s stock.

Quantum Computing Stock Up 1.0%

Shares of Quantum Computing stock opened at $8.23 on Tuesday. The stock’s fifty day moving average is $8.62 and its two-hundred day moving average is $8.86. Quantum Computing Inc. has a 52 week low of $6.18 and a 52 week high of $25.84. The company has a market capitalization of $1.86 billion, a PE ratio of -117.55 and a beta of 3.74.

Quantum Computing (NASDAQ:QUBT) last released its 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 firm had revenue of $5.55 million during the quarter, compared to analyst estimates of $5.15 million. As a group, research analysts anticipate that Quantum Computing Inc. will post -0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

QUBT has been the topic of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a research report on Wednesday, June 24th. Wall Street Zen downgraded Quantum Computing from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Lake Street Capital reaffirmed a “buy” rating on shares of Quantum Computing in a research note on Monday, July 6th. Wedbush started coverage on shares of Quantum Computing in a research report on Monday, August 3rd. They set a “neutral” rating and a $12.00 price objective on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $22.00 target price on shares of Quantum Computing in a research note on Monday, June 29th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.67.

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.