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

Allianz SE acquired a new stake in shares of Quantum Computing Inc. (NASDAQ:QUBT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 20,000 shares of the company’s stock, valued at approximately $331,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Archer Investment Corp bought a new position in Quantum Computing during the fourth quarter valued at $33,000. IFP Advisors Inc purchased a new position in shares of Quantum Computing during the fourth quarter valued at approximately $33,000. Farther Finance Advisors LLC bought a new position in Quantum Computing in the 4th quarter valued at $33,000. Virtu Financial LLC increased its stake in Quantum Computing by 377.7% in the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after buying an additional 47,880 shares during the period. Finally, Hollencrest Capital Management purchased a new position in shares of Quantum Computing during the fourth quarter worth approximately $41,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Quantum Computing

In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $8.48, for a total transaction of $1,696,000.00. Following the transaction, the insider now directly owns 24,051,256 shares of the company’s stock, valued at $203,954,650.88. This trade represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 31.10% of the stock is owned by company insiders.

Quantum Computing Price Performance

QUBT stock opened at $8.45 on Monday. The company has a market capitalization of $1.16 billion, a P/E ratio of -29.14 and a beta of 3.26. The business has a 50-day moving average price of $8.01 and a 200 day moving average price of $6.68. Quantum Computing Inc. has a 1-year low of $0.35 and a 1-year high of $27.15.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data 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 analysts’ expectations of $0.20 million. During the same period in the previous year, the company posted ($0.09) EPS.

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.