Allianz SE Invests $331,000 in Quantum Computing Inc. (NASDAQ:QUBT)

Allianz SE acquired a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 20,000 shares of the company’s stock, valued at approximately $331,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. IFP Advisors Inc purchased a new stake in Quantum Computing during the fourth quarter worth about $33,000. Farther Finance Advisors LLC acquired a new position in shares of Quantum Computing in the fourth quarter worth $33,000. Archer Investment Corp purchased a new stake in shares of Quantum Computing during the fourth quarter worth $33,000. Hollencrest Capital Management purchased a new position in Quantum Computing in the fourth quarter valued at $41,000. Finally, Signaturefd LLC purchased a new stake in Quantum Computing during the 4th quarter worth about $43,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Quantum Computing

In related news, insider Yuping Huang sold 200,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total value of $1,696,000.00. Following the transaction, the insider now directly owns 24,051,256 shares of the company’s stock, valued at approximately $203,954,650.88. This trade represents a 0.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 31.10% of the company’s stock.

Quantum Computing Trading Up 6.4 %

Shares of QUBT opened at $8.45 on Monday. Quantum Computing Inc. has a twelve month low of $0.35 and a twelve month high of $27.15. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -29.14 and a beta of 3.26. The firm’s fifty day simple moving average is $8.01 and its 200-day simple moving average is $6.68.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings results on Thursday, March 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate 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 period in the previous year, the business earned ($0.09) EPS.

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.