Insider Selling: Quantum Computing Inc. (NASDAQ:QUBT) CFO Sells 92,271 Shares of Stock

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) CFO Christopher Boehmler sold 92,271 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $15.00, for a total transaction of $1,384,065.00. Following the completion of the sale, the chief financial officer now directly owns 227,739 shares of the company's stock, valued at $3,416,085. The trade was a 28.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, June 11th, Christopher Boehmler sold 83,495 shares of Quantum Computing stock. The stock was sold at an average price of $19.92, for a total transaction of $1,663,220.40.
• 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.

Quantum Computing Stock Performance

Shares of QUBT stock traded down $0.83 during midday trading on Friday, reaching $16.68. 21,413,597 shares of the company were exchanged, compared to its average volume of 20,975,738. Quantum Computing Inc. has a 12 month low of $0.35 and a 12 month high of $27.15. The company has a market cap of $2.35 billion, a P/E ratio of -57.52 and a beta of 3.85. The company's 50 day moving average price is $9.79 and its two-hundred day moving average price is $9.71.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last released its earnings results 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 for the quarter, compared to analyst estimates of $0.20 million. During the same quarter in the prior year, the firm earned ($0.09) EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers purchased a new position in Quantum Computing during the first quarter valued at approximately $28,000. Tower Research Capital LLC TRC purchased a new position in Quantum Computing during the fourth quarter valued at approximately $30,000. Hollencrest Capital Management grew 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 valued at $32,000 after purchasing an additional 1,500 shares in the last quarter. IFP Advisors Inc purchased a new position in Quantum Computing during the fourth quarter valued at approximately $33,000. Finally, Farther Finance Advisors LLC purchased a new position in Quantum Computing during the fourth quarter valued at approximately $33,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

QUBT has been the subject of several research reports. Ascendiant Capital Markets lifted their price target on shares of Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a report on Friday, June 6th. Wall Street Zen raised shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a research note 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.