Jupiter Topco LLC Takes $852,000 Position in Quantum Computing Inc. $QUBT

Jupiter Topco LLC purchased a new position in Quantum Computing Inc. (NASDAQ:QUBT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 87,818 shares of the company’s stock, valued at approximately $852,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC purchased a new position in Quantum Computing in the fourth quarter valued at about $26,000. Rhumbline Advisers purchased a new stake in shares of Quantum Computing during the 1st quarter worth about $28,000. Tucker Asset Management LLC purchased a new stake in shares of Quantum Computing during the 4th quarter worth about $29,000. State of Wyoming acquired a new stake in shares of Quantum Computing during the 2nd quarter valued at about $29,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Quantum Computing during the 2nd quarter valued at about $29,000. 4.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on QUBT. Wall Street Zen cut Quantum Computing from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Rosenblatt Securities reiterated a “buy” rating and issued a $22.00 target price on shares of Quantum Computing in a research note on Monday, June 29th. Ascendiant Capital Markets boosted their target price on shares of Quantum Computing from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Lake Street Capital restated a “buy” rating on shares of Quantum Computing in a research note on Monday, July 6th. Finally, Wedbush assumed coverage on shares of Quantum Computing in a report on Monday, August 3rd. They set a “neutral” rating and a $12.00 price target on the stock. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Quantum Computing has a consensus rating of “Hold” and an average target price of $18.67.

Quantum Computing Stock Performance

QUBT opened at $8.01 on Monday. The company has a market cap of $1.81 billion, a PE ratio of -114.41 and a beta of 3.78. The stock has a 50-day moving average of $8.49 and a 200-day moving average of $8.85. Quantum Computing Inc. has a 52-week low of $6.18 and a 52-week high of $25.84.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates 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. On average, research analysts predict that Quantum Computing Inc. will post -0.19 earnings per share for the current year.

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.