Virtu Financial LLC Increases Holdings in Quantum Computing Inc.

Virtu Financial LLC has significantly increased its investment in Quantum Computing Inc. (NASDAQ:QUBT) during the third quarter of this year. According to the latest disclosure made to the Securities and Exchange Commission (SEC), Virtu Financial raised its stake in Quantum Computing shares by an impressive 377.7%. By the end of the quarter, the firm owned a total of 60,557 shares after acquiring an additional 47,880 shares. The company's holdings in Quantum Computing represent approximately 0.06% of its total shares, valued at about $40,000.

In a separate move, another financial entity, XTX Topco Ltd, also entered the market by purchasing a new stake in Quantum Computing during the same period, with their acquisition reportedly worth around $46,000. Collectively, hedge funds and other institutional investors now own roughly 4.26% of Quantum Computing stock.

Recent Analyst Upgrades

Recent analysts have been optimistic about Quantum Computing's stock performance as well. Ascendiant Capital Markets raised its price target for the company's shares from $8.25 to $8.50, maintaining a "buy" rating in their research report released on November 13th.

Quantum Computing's Market Performance

On Friday, QUBT shares opened at $17.62, reflecting a significant trading up by 16.4%. The stock’s performance over the last year has been notable, with a 12-month low of $0.35 and a high of $27.15. Currently, Quantum Computing has a market capitalization of around $2.10 billion, with a PE ratio of -60.76 and a beta of 3.11, indicating high volatility. The 50-day moving average price stands at $4.55, while the 200-day moving average is at $2.00.

Earnings Report Insights

Quantum Computing Inc. last released its earnings report on October 2nd, showcasing a loss of ($0.06) EPS for the quarter, which was better than analysts' predictions of ($0.08) by $0.02. The company's total revenue for this quarter was recorded at $0.18 million.

About Quantum Computing Inc.

Quantum Computing Inc. specializes in integrated photonics, providing both accessible and affordable quantum machines. The company's technology includes the Dirac systems, which are low power, portable qubit and qudit quantum computers that operate at room temperature. Their offerings also feature advanced systems for reservoir computing, remote sensing, and single photon imaging. Additionally, Quantum Computing provides a Quantum random number generator (uQRNG) that produces genuinely random numbers sourced from quantum processes, enhancing cybersecurity protocols.

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