LPL Financial LLC Buys New Position in Quantum Computing Inc. (NASDAQ:QUBT)

LPL Financial LLC acquired a new stake in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 74,046 shares of the company's stock, valued at approximately $1,225,000. LPL Financial LLC owned about 0.05% of Quantum Computing at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QUBT. UNICOM Systems Inc. acquired a new stake in shares of Quantum Computing during the 4th quarter valued at about $5,707,000. Mission Wealth Management LP acquired a new stake in Quantum Computing in the fourth quarter valued at approximately $1,986,000. Raymond James Financial Inc. acquired a new stake in Quantum Computing in the fourth quarter valued at approximately $1,924,000. SBI Securities Co. Ltd. bought a new stake in Quantum Computing in the fourth quarter worth approximately $1,602,000. Finally, Focus Financial Network Inc. acquired a new position in shares of Quantum Computing during the 4th quarter worth $1,536,000. Hedge funds and other institutional investors own 4.26% of the company's stock.

Quantum Computing Price Performance

Shares of QUBT stock traded up $0.07 on Tuesday, hitting $5.94. The company's stock had a trading volume of 4,555,520 shares, compared to its average volume of 16,655,736. The stock has a market capitalization of $815.24 million, a price-to-earnings ratio of -20.48 and a beta of 3.00. Quantum Computing Inc. has a fifty-two week low of $0.35 and a fifty-two week high of $27.15. The firm's fifty day moving average price is $6.86 and its 200-day moving average price is $7.40.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its earnings results on Thursday, March 20th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The business had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.20 million. During the same quarter in the prior year, the business posted ($0.09) EPS.

Insider Activity at Quantum Computing

In related news, insider Yuping Huang sold 200,000 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $8.48, for a total value of $1,696,000.00. Following the transaction, the insider now directly owns 24,051,256 shares in the company, valued at approximately $203,954,650.88. This trade represents a 0.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 31.10% of the stock is owned by company insiders.

Quantum Computing Company Profile

Quantum Computing Inc, an integrated photonics company, offers accessible and affordable quantum machines. The company offers Dirac systems are portable, low power, and room temperature qubit and qudit entropy quantum computers (EQC); reservoir computing; remote sensing; and single photon imaging. It also provides Quantum random number generator (uQRNG), a portable device that provides genuine random numbers directly from quantum processes; and quantum authentication which eliminates vulnerabilities inherent in classical cryptographic schemes by offering a comprehensive entanglement-based quantum cyber solution that seamlessly integrates into existing telecom fiber and communication infrastructure.