Quantum Computing Inc. (NASDAQ:QUBT) CFO Sells $1,663,220.40 in Stock

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) CFO Christopher Boehmler sold 83,495 shares of Quantum Computing stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $19.92, for a total transaction of $1,663,220.40. Following the completion of the transaction, the chief financial officer now directly owns 47,565 shares in the company, valued at $947,494.80. This represents a 63.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Christopher Boehmler also recently made the following trade(s):

• On Tuesday, June 10th, Christopher Boehmler sold 96,679 shares of Quantum Computing stock. The stock was sold at an average price of $15.96, for a total transaction of $1,542,996.84.
• On Monday, June 9th, Christopher Boehmler sold 92,271 shares of Quantum Computing stock. The stock was sold at an average price of $15.00, for a total transaction of $1,384,065.00.

Quantum Computing Stock Performance

Shares of QUBT stock traded down $1.46 during trading on Thursday, hitting $17.51. 59,942,861 shares of the company were exchanged, compared to its average volume of 20,731,198. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of -60.38 and a beta of 3.85. The business's 50-day simple moving average is $9.37 and its 200 day simple moving average is $9.55. Quantum Computing Inc. has a twelve month low of $0.35 and a twelve month high of $27.15.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The company had revenue of $0.06 million for the quarter, compared to analysts' expectations of $0.20 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share.

Hedge Funds Weigh In On Quantum Computing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers bought a new position in Quantum Computing during the first quarter valued at approximately $28,000. Tower Research Capital LLC TRC bought a new position in shares of Quantum Computing in the fourth quarter valued at approximately $30,000. Hollencrest Capital Management increased its position in Quantum Computing by 60.0% during the first quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock worth $32,000 after acquiring an additional 1,500 shares during the period. IFP Advisors Inc bought a new position in Quantum Computing during the fourth quarter worth $33,000. Finally, Farther Finance Advisors LLC bought a new position in Quantum Computing during the fourth quarter worth $33,000. Institutional investors own 4.26% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on QUBT. Ascendiant Capital Markets raised their target price on shares of Quantum Computing from $14.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Wall Street Zen upgraded shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a report on Thursday, May 22nd.

Quantum Computing Company 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.