Archer Investment Corp Invests $33,000 in Quantum Computing Inc. (NASDAQ:QUBT)

Archer Investment Corp purchased a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 2,011 shares of the company’s stock, valued at approximately $33,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of QUBT. Virtu Financial LLC increased its position 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 purchasing an additional 47,880 shares during the period. XTX Topco Ltd acquired a new position in Quantum Computing during the third quarter worth $46,000. Flagship Harbor Advisors LLC acquired a new position in Quantum Computing during the fourth quarter worth $199,000. Sovereign Financial Group Inc. purchased a new position in Quantum Computing in the fourth quarter worth $209,000. Finally, Diversify Wealth Management LLC acquired a new stake in Quantum Computing in the fourth quarter valued at $331,000. 4.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets increased their price target on shares of Quantum Computing from $8.25 to $8.50 and gave the company a “buy” rating in a report on Wednesday, November 13th.

Quantum Computing Trading Down 3.0 %

QUBT stock opened at $9.28 on Friday. The firm has a 50 day moving average of $11.90 and a 200-day moving average of $4.98. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -32.00 and a beta of 2.75. Quantum Computing Inc. has a 12-month low of $0.35 and a 12-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 company had revenue of $0.10 million during the quarter.

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.