Raymond James Financial Inc. Takes Position in Quantum Computing Inc. (NASDAQ:QUBT)

Raymond James Financial Inc. bought a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 116,273 shares of the company's stock, valued at approximately $1,924,000. Raymond James Financial Inc. owned approximately 0.09% of Quantum Computing as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. IFP Advisors Inc bought a new stake in shares of Quantum Computing during the 4th quarter worth $33,000. Archer Investment Corp purchased a new position in Quantum Computing in the fourth quarter valued at about $33,000. SRH Advisors LLC bought a new position in shares of Quantum Computing during the 4th quarter valued at approximately $69,000. Capital Advisors Inc. OK bought a new stake in shares of Quantum Computing in the 4th quarter worth approximately $166,000. Finally, Essex Financial Services Inc. purchased a new position in Quantum Computing in the fourth quarter valued at approximately $174,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Quantum Computing

In other news, insider Yuping Huang sold 200,000 shares of the company'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 owns 24,051,256 shares of the company's stock, valued at approximately $203,954,650.88. This represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 31.10% of the company's stock.

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Quantum Computing Stock Down 13.0 %

QUBT traded down $0.98 during trading hours on Friday, hitting $6.59. The stock had a trading volume of 3,001,255 shares, compared to its average volume of 16,175,383. The stock has a market cap of $904.17 million, a PE ratio of -22.92 and a beta of 2.99. The company's fifty day simple moving average is $7.76 and its 200 day simple moving average is $6.79. Quantum Computing Inc. has a 1 year low of $0.35 and a 1 year high of $27.15.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.42). The company had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.20 million. During the same period last year, the company earned ($0.09) EPS.

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.