Javad Shabani Sells 17,474 Shares of Quantum Computing (NASDAQ:QUBT) Stock

Key Points

• Javad Shabani, Director of Quantum Computing Inc., sold 17,474 shares at an average price of $15.26, totaling approximately $266,653.24.
• Quantum Computing's stock price has recently fluctuated, showing a 12-month low of $0.58 and a high of $27.15, with a current trading value of around $15.24.
• Analysts have mixed ratings on Quantum Computing, with one research firm giving it a "buy" rating and another dropping it to "strong sell," while the consensus target price stands at $18.50.

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) Director Javad Shabani sold 17,474 shares of the business's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $15.26, for a total transaction of $266,653.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Javad Shabani also recently made the following trade(s):

• On Friday, September 5th, Javad Shabani sold 20,000 shares of Quantum Computing stock. The stock was sold at an average price of $15.30, for a total value of $306,000.00.

Quantum Computing Trading Up 0.9%

Shares of NASDAQ QUBT traded up $0.13 during midday trading on Monday, hitting $15.24. 12,489,408 shares of the company's stock were exchanged, compared to its average volume of 14,785,558. The business's fifty day moving average price is $16.71 and its two-hundred day moving average price is $12.21. The company has a market cap of $2.44 billion, a price-to-earnings ratio of -22.41 and a beta of 3.88. Quantum Computing Inc. has a 12-month low of $0.58 and a 12-month high of $27.15.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, meeting analysts' consensus estimates of ($0.06). The firm had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.10 million.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on QUBT. Cantor Fitzgerald initiated coverage on Quantum Computing in a report on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 price objective for the company. Ascendiant Capital Markets upped their target price on Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, Wall Street Zen cut shares of Quantum Computing from a "hold" rating to a "strong sell" rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.50.

Institutional Investors Weigh In On Quantum Computing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC bought a new position in Quantum Computing in the 2nd quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Quantum Computing in the second quarter worth about $29,000. FWL Investment Management LLC bought a new stake in Quantum Computing during the second quarter valued at approximately $33,000. Tower Research Capital LLC TRC bought a new stake in shares of Quantum Computing during the 4th quarter valued at $30,000. Finally, Allworth Financial LP purchased a new stake in Quantum Computing in the second quarter worth about $42,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

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.

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