Rockefeller Capital Management L.P. Invests $13.95 Million in Quantum Computing Inc. (NASDAQ:QUBT)

Rockefeller Capital Management L.P. purchased a new stake in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 843,054 shares of the company's stock, valued at approximately $13,953,000. Rockefeller Capital Management L.P. owned 0.61% of Quantum Computing as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Archer Investment Corp purchased a new stake in Quantum Computing in the 4th quarter worth about $33,000. IFP Advisors Inc purchased a new stake in shares of Quantum Computing in the fourth quarter worth approximately $33,000. Farther Finance Advisors LLC acquired a new stake in shares of Quantum Computing during the fourth quarter worth approximately $33,000. Virtu Financial LLC grew its position in Quantum Computing by 377.7% during the third quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock valued at $40,000 after purchasing an additional 47,880 shares in the last quarter. Finally, Hollencrest Capital Management acquired a new position in Quantum Computing in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 4.26% of the company's stock.

Quantum Computing Stock Performance

Shares of NASDAQ:QUBT remained flat at $6.41 during trading on Friday. 4,228,606 shares of the company's stock were exchanged, compared to its average volume of 16,562,274. The company has a fifty day simple moving average of $6.98 and a two-hundred day simple moving average of $7.24. Quantum Computing Inc. has a 52 week low of $0.35 and a 52 week high of $27.15. The firm has a market cap of $879.74 million, a price-to-earnings ratio of -22.10 and a beta of 3.00.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.42). The company had revenue of $0.06 million during the quarter, compared to analysts' expectations of $0.20 million. During the same period last year, the firm posted ($0.09) earnings per share.

Insider Activity at Quantum Computing

In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of Quantum Computing stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 24,051,256 shares in the company, valued at $203,954,650.88. The trade was a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 31.10% of the stock is currently owned by company insiders.

About Quantum Computing

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.