Charles Schwab Investment Management Inc. Buys Shares of 30,573 Quantum Computing Inc. (NASDAQ:QUBT)

Charles Schwab Investment Management Inc. purchased a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 30,573 shares of the company’s stock, valued at approximately $506,000.

Several other hedge funds and other institutional investors have also modified their holdings of QUBT. Geode Capital Management LLC lifted its stake 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 acquiring an additional 65,486 shares in the last quarter. UNICOM Systems Inc. purchased a new stake in Quantum Computing during the fourth quarter worth about $5,707,000. Mission Wealth Management LP acquired a new stake in shares of Quantum Computing during the fourth quarter worth about $1,986,000. SBI Securities Co. Ltd. purchased a new position in shares of Quantum Computing in the fourth quarter valued at approximately $1,602,000. Finally, Focus Financial Network Inc. acquired a new position in shares of Quantum Computing in the fourth quarter valued at approximately $1,536,000. 4.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Yuping Huang sold 200,000 shares of Quantum Computing stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $8.48, for a total value of $1,696,000.00. Following the completion of the transaction, the insider now owns 24,051,256 shares in the company, valued at $203,954,650.88. The trade was a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 31.10% of the stock is owned by company insiders.

Quantum Computing Stock Down 5.3 %

Quantum Computing stock opened at $8.00 on Tuesday. Quantum Computing Inc. has a 52-week low of $0.35 and a 52-week high of $27.15. The firm has a market cap of $1.10 billion, a PE ratio of -27.59 and a beta of 3.26. The company’s 50 day moving average is $7.98 and its two-hundred day moving average is $6.73.

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

About Quantum Computing

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.