120,000 Shares in Quantum Computing Inc. (NASDAQ:QUBT) Acquired by Mission Wealth Management LP

Mission Wealth Management LP bought a new stake in Quantum Computing Inc. (NASDAQ:QUBT) in the fourth quarter, Holdings Channel reports. The institutional investor bought 120,000 shares of the company’s stock, valued at approximately $1,986,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Archer Investment Corp acquired a new position in Quantum Computing during the 4th quarter worth approximately $33,000. IFP Advisors Inc purchased a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $33,000. Virtu Financial LLC grew its holdings in Quantum Computing by 377.7% during the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after acquiring an additional 47,880 shares during the period. XTX Topco Ltd purchased a new position in Quantum Computing in the third quarter worth $46,000. Finally, SRH Advisors LLC acquired a new stake in Quantum Computing in the fourth quarter valued at $69,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

Quantum Computing Trading Down 10.5 %

Shares of Quantum Computing stock opened at $5.43 on Tuesday. The company has a 50-day moving average of $11.09 and a two-hundred day moving average of $5.82. Quantum Computing Inc. has a 12-month low of $0.35 and a 12-month high of $27.15. The stock has a market cap of $744.87 million, a PE ratio of -18.72 and a beta of 2.75.

Analysts Set New Price Targets

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

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.