Hollencrest Capital Management Invests $41,000 in Quantum Computing Inc. (NASDAQ:QUBT)

Hollencrest Capital Management acquired a new stake in shares of Quantum Computing Inc. (NASDAQ:QUBT) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,500 shares of the company’s stock, valued at approximately $41,000.

Other hedge funds also recently made changes to their positions in the company. Archer Investment Corp acquired a new position in shares of Quantum Computing in the 4th quarter worth $33,000. IFP Advisors Inc acquired a new position in shares of Quantum Computing in the fourth quarter worth about $33,000. Virtu Financial LLC increased its position in shares of Quantum Computing by 377.7% in the third 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. XTX Topco Ltd acquired a new stake in shares of Quantum Computing during the third quarter valued at approximately $46,000. Finally, SRH Advisors LLC purchased a new stake in shares of Quantum Computing in the 4th quarter valued at approximately $69,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

Quantum Computing Trading Up 14.6 %

NASDAQ:QUBT opened at $5.42 on Thursday. The business’s fifty day moving average price is $9.29 and its 200 day moving average price is $6.04. The firm has a market capitalization of $743.49 million, a price-to-earnings ratio of -18.69 and a beta of 3.26. Quantum Computing Inc. has a 1-year low of $0.35 and a 1-year high of $27.15.

Analyst Ratings Changes

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