12,650 Shares in Quantum Computing Inc. (NASDAQ:QUBT) Purchased by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. purchased a new position in Quantum Computing Inc. (NASDAQ:QUBT) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,650 shares of the company’s stock, valued at approximately $209,000.

A number of other institutional investors also recently bought and sold shares of the business. Virtu Financial LLC lifted its holdings in shares of 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 buying an additional 47,880 shares during the period. XTX Topco Ltd purchased a new position in Quantum Computing during the third quarter valued at approximately $46,000. Finally, Geode Capital Management LLC lifted its holdings in Quantum Computing by 10.5% in the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after acquiring an additional 65,486 shares during the period. 4.26% of the stock is owned by hedge funds and other institutional investors.

Quantum Computing Stock Up 55.5 %

NASDAQ:QUBT opened at $11.55 on Thursday. Quantum Computing Inc. has a 52 week low of $0.35 and a 52 week high of $27.15. The stock’s 50-day moving average price is $9.86 and its 200-day moving average price is $3.92. The stock has a market capitalization of $1.49 billion, a PE ratio of -39.83 and a beta of 2.83.

Analysts Set New Price Targets

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

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.