Essex Financial Services Inc. Makes New $174,000 Investment in Quantum Computing Inc. (NASDAQ:QUBT)

Essex Financial Services Inc. purchased a new stake in Quantum Computing Inc. (NASDAQ:QUBT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,500 shares of the company’s stock, valued at approximately $174,000.

Other hedge funds also recently modified their holdings of the company. Archer Investment Corp bought a new position in Quantum Computing in the fourth quarter valued at about $33,000. Virtu Financial LLC increased its stake in shares of Quantum Computing by 377.7% in the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after buying an additional 47,880 shares during the period. XTX Topco Ltd bought a new position in Quantum Computing in the 3rd quarter valued at approximately $46,000. Flagship Harbor Advisors LLC acquired a new stake in Quantum Computing during the 4th quarter worth approximately $199,000. Finally, Sovereign Financial Group Inc. acquired a new position in Quantum Computing in the 4th quarter valued at approximately $209,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets lifted their price target on shares of Quantum Computing from $8.25 to $8.50 and gave the stock a “buy” rating in a report on Wednesday, November 13th.

Quantum Computing Trading Down 4.0 %

Shares of QUBT stock opened at $7.95 on Friday. Quantum Computing Inc. has a 1-year low of $0.35 and a 1-year high of $27.15. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -27.41 and a beta of 2.75. The stock has a 50-day moving average of $12.08 and a 200-day moving average of $5.30.

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.