Quantum Computing (QUBT) Stock Rises 13% Post-Q3 Earnings: Ownership Breakdown
Quantum Computing (QUBT) experienced a significant uptick of 13% in after-hours trading following the release of its third-quarter earnings. The company’s revenues reached $384,000, a notable increase from the previous year and surpassing analysts’ expectations. Additionally, QUBT reported earnings of $0.01 per share, in contrast to the anticipated loss of $0.06 per share.
Strong Financial Position
As of the end of the quarter, QUBT maintained a robust cash position totaling $352 million. This financial stability positions the company well for expansion and further investment opportunities.
Growth and Developments
CEO Yuping Huang emphasized the company’s shift from initial production phases to larger-scale manufacturing. He also highlighted two key revenue sources: a partnership with NASA’s LiDAR program and a collaboration with a major U.S. financial institution aimed at testing its quantum and AI platforms.
Ownership Breakdown of QUBT
With the stock gaining attention, a closer look at its ownership structure reveals that public companies and individual investors together own 63.59% of QUBT shares. The table below outlines the ownership percentages by category:
| Ownership Category | Percentage |
|---|---|
| Public Companies and Individual Investors | 63.59% |
| ETFs | 15.20% |
| Insiders | 12.46% |
| Mutual Funds | 7.17% |
| Other Institutional Investors | 1.58% |
Top Shareholders
Among the key stakeholders, CEO Yuping Huang commands the largest ownership, holding 11.18% of the company. Vanguard comes next with a 5.74% stake. The YieldMax Ultra Option Income Strategy ETF (ULTY) owns 3.09%, while the Vanguard Total Stock Market ETF (VTI) holds 2.30%. Additionally, Vanguard Index Funds has approximately 2.98%, and Vanguard World Fund owns 1.70% of QUBT.
Analyst Insights on QUBT Stock
TipRanks offers a Moderate Buy consensus rating for QUBT, with two buy recommendations issued in the past three months. The average price target for Quantum Computing stock stands at $32.00, indicating a potential increase of over 201.89% from its current trading level.
