Veracity Capital LLC Takes Position in Quantum Computing Inc. (NASDAQ:QUBT)

Veracity Capital LLC bought a new position in Quantum Computing Inc. (NASDAQ:QUBT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 20,720 shares of the company’s stock, valued at approximately $343,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QUBT. Sovereign Financial Group Inc. bought a new stake in Quantum Computing in the 4th quarter worth $209,000. Diversify Wealth Management LLC purchased a new stake in shares of Quantum Computing during the fourth quarter worth about $331,000. SG Americas Securities LLC bought a new stake in shares of Quantum Computing in the fourth quarter worth about $626,000. Janney Montgomery Scott LLC purchased a new position in Quantum Computing during the 4th quarter valued at about $786,000. Finally, Virtu Financial LLC increased its holdings in Quantum Computing by 377.7% during the 3rd 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 during the period. 4.26% of the stock is currently owned by institutional investors.

Quantum Computing Stock Up 0.2 %

NASDAQ:QUBT opened at $11.12 on Friday. The firm’s fifty day simple moving average is $10.90 and its 200 day simple moving average is $4.32. The stock has a market cap of $1.43 billion, a P/E ratio of -38.34 and a beta of 2.83. Quantum Computing Inc. has a twelve month low of $0.35 and a twelve month high of $27.15.

Quantum Computing (NASDAQ:QUBT) last announced its earnings results on Wednesday, November 6th. The company reported ($0.06) earnings per share for the quarter. The firm had revenue of $0.10 million for the quarter.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets lifted their price objective on Quantum Computing from $8.25 to $8.50 and gave the stock a “buy” rating in a research report 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.