Quantum Computing Inc. (NASDAQ:QUBT) Insider Yuping Huang Sells 500,000 Shares

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) insider Yuping Huang sold 500,000 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $11.70, for a total transaction of $5,850,000.00. Following the transaction, the insider now owns 21,236,906 shares of the company's stock, valued at approximately $248,471,800.20. This represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Yuping Huang also recently made the following trade(s):

• On Tuesday, March 25th, Yuping Huang sold 200,000 shares of Quantum Computing stock. The stock was sold at an average price of $8.48, for a total transaction of $1,696,000.00.

Quantum Computing Stock Performance

Quantum Computing stock traded down $0.32 during trading hours on Tuesday, reaching $11.51. 46,499,985 shares of the company's stock traded hands, compared to its average volume of 18,155,508. The firm's 50 day moving average is $7.69 and its 200-day moving average is $8.43. Quantum Computing Inc. has a fifty-two week low of $0.35 and a fifty-two week high of $27.15. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -39.69 and a beta of 3.74.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its earnings results on Thursday, March 20th. The company reported ($0.47) 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 analysts' expectations of $0.20 million. During the same period in the previous year, the firm earned ($0.09) earnings per share.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets upped their target price on shares of Quantum Computing from $8.50 to $14.00 and gave the stock a "buy" rating in a research report on Monday, April 28th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of QUBT. Vanguard Group Inc. increased 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 buying an additional 1,004,675 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $69,613,000. Anson Funds Management LP bought a new stake in Quantum Computing during the fourth quarter worth about $70,006,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Quantum Computing during the 1st quarter worth approximately $7,084,000. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Quantum Computing in the 4th quarter valued at $13,953,000. 4.26% of the stock is owned by institutional investors and hedge funds.

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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