Insider Selling: Quantum Computing (NASDAQ:QUBT) CFO Sells 9,360 Shares of Stock

Key Points

• CFO Christopher Bruce Roberts sold a total of 78,262 shares over March 10–11 (9,360 shares on Mar 11 at $7.85 for $73,476 and 68,902 shares on Mar 10 for $540,880.70), leaving him with 1,123,038 shares (about a 0.83% reduction in his stake).
• Quantum Computing reported a quarterly loss of $0.01 per share, beating estimates of a $0.04 loss, while revenue missed expectations ($0.20M vs. $0.39M); the stock traded around $7.62 (up 0.3%) with a market cap of ~$1.71B and a 52-week range of $4.86–$25.84.
• Analyst coverage is mixed (three Buys, two Holds, one Sell) with a consensus rating of Hold and an average target of $17.00, and institutional investors own roughly 4.26% of the company.

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) CFO Christopher Bruce Roberts sold 9,360 shares of the business's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $7.85, for a total transaction of $73,476.00. Following the transaction, the chief financial officer owned 1,123,038 shares of the company's stock, valued at approximately $8,815,848.30. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Christopher Bruce Roberts also recently made the following trade(s):

• On Tuesday, March 10th, Christopher Bruce Roberts sold 68,902 shares of Quantum Computing stock. The stock was sold at an average price of $7.85, for a total value of $540,880.70.

Quantum Computing Stock Up 0.3%

Shares of QUBT stock traded up $0.02 during trading hours on Wednesday, reaching $7.62. The company's stock had a trading volume of 9,271,604 shares, compared to its average volume of 11,228,796. Quantum Computing Inc. has a fifty-two week low of $4.86 and a fifty-two week high of $25.84. The firm's 50 day simple moving average is $9.78 and its 200-day simple moving average is $13.21. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -50.80 and a beta of 3.51.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.03. The business had revenue of $0.20 million for the quarter, compared to analyst estimates of $0.39 million.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Aventura Private Wealth LLC purchased a new stake in shares of Quantum Computing during the 4th quarter valued at $26,000. International Assets Investment Management LLC purchased a new position in shares of Quantum Computing in the 4th quarter worth about $26,000. Farther Finance Advisors LLC grew its position in Quantum Computing by 724.7% during the third quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company's stock valued at $28,000 after buying an additional 1,319 shares during the period. Rhumbline Advisers bought a new stake in Quantum Computing in the first quarter worth about $28,000. Finally, Tucker Asset Management LLC purchased a new position in Quantum Computing in the fourth quarter valued at about $29,000. Institutional investors own 4.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Quantum Computing in a report on Monday, December 29th. Wall Street Zen lowered shares of Quantum Computing from a "hold" rating to a "sell" rating in a report on Saturday. Rosenblatt Securities reaffirmed a "buy" rating and set a $22.00 price target on shares of Quantum Computing in a research note on Tuesday, March 3rd. Ascendiant Capital Markets cut their target price on Quantum Computing from $40.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, December 22nd. Finally, Lake Street Capital lowered their target price on shares of Quantum Computing from $24.00 to $16.00 and set a "buy" rating for the company in a report on Monday, November 17th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Quantum Computing has a consensus rating of "Hold" and an average target price of $17.00.

Quantum Computing Company Profile

Quantum Computing Inc NASDAQ: QUBT is a provider of quantum computing and quantum-inspired algorithm solutions, headquartered in the United States with research and development operations in Europe. Originally incorporated as Unigrid Software in 2019, the company rebranded in 2021 to reflect its strategic focus on commercializing emerging quantum technologies for enterprise and government customers.

The company's flagship product, Qatalyst, is a quantum-inspired optimization platform that applies advanced heuristic solvers to address complex combinatorial problems in logistics, supply chain management, finance and other data-intensive fields.

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