Virtu Financial LLC Increases Stake in Quantum Computing Inc.

Virtu Financial LLC has significantly increased its investment in Quantum Computing Inc. (NASDAQ:QUBT) by a staggering 377.7% during the third quarter of the year. This information comes from the latest filings made with the Securities and Exchange Commission (SEC). Following this acquisition, Virtu now holds a total of 60,557 shares in Quantum Computing Inc., having purchased an additional 47,880 shares throughout the quarter. Based on their most recent SEC disclosure, Virtu Financial holds approximately 0.06% of Quantum Computing's total shares, valued at around $40,000.

In a related development, XTX Topco Ltd also made a strategic move by acquiring a new position in Quantum Computing during the same quarter, investing roughly $46,000. It is noteworthy that institutional investors, including hedge funds, collectively hold about 4.26% of the company’s stock.

Recent Analyst Updates

Additionally, market analysts from Ascendiant Capital Markets recently updated their outlook on Quantum Computing, raising the price target from $8.25 to $8.50. They have assigned a “buy” rating to the stock, reflecting their positive assessment of the company’s potential in the market.

Stock Performance Overview

As of Friday, QUBT shares opened at $17.62. Over the past year, Quantum Computing Inc. has experienced fluctuations, with a 12-month low of $0.35 and a high of $27.15. The company currently holds a market capitalization of $2.10 billion, has a price-to-earnings (PE) ratio of -60.76, and a beta of 3.11. Its 50-day moving average is priced at $4.55 while the 200-day moving average stands at $2.00.

Recent Financial Results

Quantum Computing Inc. recently announced its earnings results on October 2nd, reporting an earnings per share (EPS) of ($0.06) for the quarter. This result surpassed analysts' expectations, which were forecasting an EPS of ($0.08) by a margin of $0.02. The company's revenue for the quarter was recorded at $0.18 million.

Company Overview

Quantum Computing Inc. is an established player in the integrated photonics sector, offering innovative and accessible quantum machines. The company provides portable, low-power quantum computers known as Dirac systems that operate at room temperature, alongside various technologies including reservoir computing, remote sensing, and single-photon imaging. Their offerings also feature a quantum random number generator (uQRNG), designed to provide genuine random numbers derived from quantum processes. Additionally, they offer quantum authentication services that enhance security through entanglement-based solutions, effectively integrating into existing telecommunications infrastructures.

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