Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) Director Michael C. Turmelle sold 200,986 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $14.18, for a total transaction of $2,849,981.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Quantum Computing Trading Down 2.6%
Shares of QUBT stock traded down $0.46 during mid-day trading on Friday, reaching $17.05. The stock had a trading volume of 5,689,404 shares, compared to its average volume of 20,757,033. Quantum Computing Inc. has a 12-month low of $0.35 and a 12-month high of $27.15. The business has a 50-day simple moving average of $9.58 and a 200 day simple moving average of $9.62. The company has a market cap of $2.40 billion, a P/E ratio of -58.73 and a beta of 3.85.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last released 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 business had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.20 million. During the same quarter in the prior year, the company earned ($0.09) earnings per share.
Analyst Ratings Changes
QUBT has been the topic of a number of research analyst reports. Wall Street Zen upgraded Quantum Computing from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Ascendiant Capital Markets lifted their target price 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.
Get Our Latest Stock Analysis on QUBT
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management boosted its stake in Quantum Computing by 60.0% during the 1st quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock valued at $32,000 after acquiring an additional 1,500 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in Quantum Computing in the fourth quarter valued at about $30,000. IFP Advisors Inc acquired a new stake in Quantum Computing during the fourth quarter valued at approximately $33,000. Farther Finance Advisors LLC acquired a new position in shares of Quantum Computing in the 4th quarter worth approximately $33,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Quantum Computing by 0.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 326,278 shares of the company's stock valued at $2,610,000 after acquiring an additional 2,280 shares during the last quarter. Institutional investors and hedge funds own 4.26% of the company's stock.
Quantum Computing Company Profile
(
Get Free Report)
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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