Avantax Advisory Services Inc. Invests $709,000 in Quantum Computing Inc. (NASDAQ:QUBT)

Avantax Advisory Services Inc. purchased a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 42,815 shares of the company’s stock, valued at approximately $709,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC increased its position in Quantum Computing by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after purchasing an additional 65,486 shares in the last quarter. UNICOM Systems Inc. purchased a new stake in Quantum Computing during the 4th quarter worth about $5,707,000. Mission Wealth Management LP purchased a new stake in Quantum Computing during the 4th quarter worth about $1,986,000. Raymond James Financial Inc. purchased a new stake in Quantum Computing during the 4th quarter worth about $1,924,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Quantum Computing during the 4th quarter worth about $1,602,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

Quantum Computing Stock Performance

Quantum Computing stock opened at $7.39 on Friday. The stock has a market cap of $1.01 billion, a PE ratio of -25.48 and a beta of 3.26. The stock has a 50-day moving average price of $8.10 and a 200 day moving average price of $6.33. Quantum Computing Inc. has a 52 week low of $0.35 and a 52 week high of $27.15.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.42). The company had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $0.20 million. During the same period in the previous year, the company posted ($0.09) EPS.

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.