Insider Selling: Quantum Computing Inc. (NASDAQ:QUBT) Director Sells 39,973 Shares of Stock

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) Director Javad Shabani sold 39,973 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $11.66, for a total transaction of $466,085.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Quantum Computing Price Performance

Shares of NASDAQ:QUBT traded up $1.24 during trading on Friday, reaching $13.31. The stock had a trading volume of 88,569,143 shares, compared to its average volume of 18,872,700. Quantum Computing Inc. has a 52 week low of $0.35 and a 52 week high of $27.15. The business's 50-day moving average price is $7.94 and its 200 day moving average price is $8.66. The stock has a market capitalization of $1.88 billion, a PE ratio of -45.90 and a beta of 3.74.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Ascendiant Capital Markets lifted their target price on shares of Quantum Computing from $8.50 to $14.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Wall Street Zen upgraded shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a research note on Thursday.

Institutional Trading of Quantum Computing

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC acquired a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $30,000. IFP Advisors Inc acquired a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $33,000. Farther Finance Advisors LLC acquired a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $33,000. Archer Investment Corp acquired a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $33,000. Finally, Hollencrest Capital Management acquired a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 4.26% of the company's stock.

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.