UNICOM Systems Inc. Takes Position in Quantum Computing Inc. (NASDAQ:QUBT)

UNICOM Systems Inc. bought a new stake in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 344,853 shares of the company's stock, valued at approximately $5,707,000. Quantum Computing makes up about 1.4% of UNICOM Systems Inc.'s investment portfolio, making the stock its 12th largest position. UNICOM Systems Inc. owned about 0.27% of Quantum Computing at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Archer Investment Corp purchased a new position in shares of Quantum Computing during the fourth quarter valued at approximately $33,000. Virtu Financial LLC raised its holdings in Quantum Computing by 377.7% in the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock valued at $40,000 after acquiring an additional 47,880 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Quantum Computing during the 3rd quarter worth $46,000. Essex Financial Services Inc. acquired a new stake in shares of Quantum Computing during the fourth quarter worth $174,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Quantum Computing during the fourth quarter worth $199,000. 4.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets upped their target price on Quantum Computing from $8.25 to $8.50 and gave the company a "buy" rating in a research note on Wednesday, November 13th.

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Quantum Computing Stock Down 3.6 %

Shares of QUBT stock traded down $0.30 during trading hours on Friday, hitting $7.99. 10,729,072 shares of the company were exchanged, compared to its average volume of 31,103,453. Quantum Computing Inc. has a 1 year low of $0.35 and a 1 year high of $27.15. The firm has a fifty day moving average of $12.08 and a 200 day moving average of $5.25. The firm has a market cap of $1.10 billion, a PE ratio of -27.43 and a beta of 2.75.

Quantum Computing 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.