Christopher Boehmler Sells 92,271 Shares of Quantum Computing Inc. (NASDAQ:QUBT) Stock

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) CFO Christopher Boehmler sold 92,271 shares of Quantum Computing stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $15.00, for a total value of $1,384,065.00. Following the completion of the transaction, the chief financial officer now owns 227,739 shares in the company, valued at approximately $3,416,085. This represents a 28.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, June 11th, Christopher Boehmler sold 83,495 shares of Quantum Computing stock. The shares were sold at an average price of $19.92, for a total value of $1,663,220.40.
• On Tuesday, June 10th, Christopher Boehmler sold 96,679 shares of Quantum Computing stock. The shares were sold at an average price of $15.96, for a total value of $1,542,996.84.

Quantum Computing Stock Performance

Shares of NASDAQ:QUBT traded down $1.46 during midday trading on Thursday, hitting $17.51. 59,942,861 shares of the stock were exchanged, compared to its average volume of 20,731,198. The stock 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 moving average price is $9.37 and its 200 day moving average price is $9.55. Quantum Computing Inc. has a 12 month low of $0.35 and a 12 month high of $27.15.

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

Hedge Funds Weigh In On Quantum Computing

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Focus Financial Network Inc. acquired a new position in Quantum Computing in the fourth quarter valued at approximately $1,536,000. Essex Financial Services Inc. acquired a new position in Quantum Computing in the fourth quarter valued at approximately $174,000. UNICOM Systems Inc. acquired a new position in Quantum Computing in the fourth quarter valued at approximately $5,707,000. SRH Advisors LLC acquired a new position in Quantum Computing in the fourth quarter valued at approximately $69,000. Finally, Capital Advisors Inc. OK acquired a new position in shares of Quantum Computing during the fourth quarter worth approximately $166,000. 4.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on QUBT. Wall Street Zen upgraded Quantum Computing from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Ascendiant Capital Markets lifted their target price on Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, June 6th.

About Quantum Computing

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.