Essex Financial Services Inc. Purchases Shares of 10,500 Quantum Computing Inc. (NASDAQ:QUBT)

Essex Financial Services Inc. acquired a new position in Quantum Computing Inc. (NASDAQ:QUBT) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 10,500 shares of the company’s stock, valued at approximately $174,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Focus Financial Network Inc. acquired a new position in Quantum Computing in the fourth quarter valued at approximately $1,536,000. Archer Investment Corp bought a new position in Quantum Computing during the fourth quarter worth $33,000. Heck Capital Advisors LLC acquired a new stake in Quantum Computing in the fourth quarter worth $1,255,000. Flagship Harbor Advisors LLC acquired a new stake in Quantum Computing in the fourth quarter worth $199,000. Finally, Veracity Capital LLC bought a new stake in Quantum Computing in the fourth quarter valued at $343,000. Institutional investors own 4.26% of the company’s stock.

Quantum Computing Stock Down 4.0 %

Shares of QUBT opened at $7.95 on Friday. The stock has a market cap of $1.09 billion, a P/E ratio of -27.41 and a beta of 2.75. The business’s fifty day moving average is $12.08 and its 200 day moving average is $5.30. Quantum Computing Inc. has a 12-month low of $0.35 and a 12-month high of $27.15.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets raised their target price on Quantum Computing from $8.25 to $8.50 and gave the company a “buy” rating in a research note 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.