Quantum Computing Inc. (NASDAQ:QUBT) CFO Christopher Boehmler Sells 96,679 Shares

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) CFO Christopher Boehmler sold 96,679 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $15.96, for a total transaction of $1,542,996.84. Following the completion of the transaction, the chief financial officer now directly owns 131,060 shares in the company, valued at $2,091,717.60. This trade represents a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 Monday, June 9th, Christopher Boehmler sold 92,271 shares of Quantum Computing stock. The shares were sold at an average price of $15.00, for a total transaction of $1,384,065.00.

Quantum Computing Stock Down 4.7%

QUBT traded down $0.83 on Friday, reaching $16.68. The company had a trading volume of 21,413,597 shares, compared to its average volume of 20,975,738. Quantum Computing Inc. has a 1 year low of $0.35 and a 1 year high of $27.15. The stock has a market capitalization of $2.35 billion, a PE ratio of -57.52 and a beta of 3.85. The stock has a 50-day moving average price of $9.79 and a 200-day moving average price of $9.71.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.47) earnings per share (EPS) 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 period in the prior year, the company earned ($0.09) earnings per share.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Quantum Computing by 24.0% during the first quarter. Vanguard Group Inc. now owns 5,191,404 shares of the company's stock worth $41,531,000 after acquiring an additional 1,004,675 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Quantum Computing in the 4th quarter valued at $69,613,000. Anson Funds Management LP purchased a new position in shares of Quantum Computing in the 4th quarter valued at $70,006,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Quantum Computing in the 1st quarter valued at $7,084,000. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Quantum Computing in the 4th quarter valued at $13,953,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on QUBT shares. Ascendiant Capital Markets boosted 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. Wall Street Zen upgraded shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

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.