Archer Investment Corp Makes New Investment in Quantum Computing Inc. (NASDAQ:QUBT)

Archer Investment Corp acquired a new stake in Quantum Computing Inc. (NASDAQ:QUBT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,011 shares of the company’s stock, valued at approximately $33,000.

Several other institutional investors have also modified their holdings of the company. Geode Capital Management LLC boosted 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 purchasing an additional 65,486 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Quantum Computing in the 4th quarter valued at $1,255,000. XTX Topco Ltd purchased a new position in shares of Quantum Computing in the 3rd quarter valued at $46,000. Virtu Financial LLC raised its stake in Quantum Computing by 377.7% during the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after acquiring an additional 47,880 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Quantum Computing in the fourth quarter valued at $786,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

Quantum Computing Trading Down 3.0 %

Shares of NASDAQ QUBT opened at $9.28 on Friday. The stock has a market cap of $1.20 billion, a P/E ratio of -32.00 and a beta of 2.75. The stock has a 50 day moving average of $11.90 and a two-hundred day moving average of $4.98. Quantum Computing Inc. has a twelve month low of $0.35 and a twelve month high of $27.15.

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

Analyst Upgrades and Downgrades

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