Quantum Computing (NASDAQ:QUBT) Director Javad Shabani Sells 20,000 Shares

Key Points

• Javad Shabani, a Director at Quantum Computing Inc. (NASDAQ:QUBT), sold 20,000 shares at an average price of $15.30, totaling $306,000, marking a 53.37% decrease in his holdings.
• Quantum Computing's latest earnings report revealed an EPS of ($0.06), matching expectations, but revenue of $0.06 million fell short of analyst estimates of $0.10 million.
• Analysts show mixed sentiments with target prices ranging from $15.00 to $22.00, while the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.50.

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) Director Javad Shabani sold 20,000 shares of the company's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $15.30, for a total value of $306,000.00. Following the completion of the transaction, the director owned 17,474 shares of the company's stock, valued at approximately $267,352.20. This represents a 53.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, September 8th, Javad Shabani sold 17,474 shares of Quantum Computing stock. The shares were sold at an average price of $15.26, for a total transaction of $266,653.24.

Quantum Computing Trading Up 0.9%

NASDAQ:QUBT traded up $0.13 on Monday, reaching $15.24. The stock had a trading volume of 12,489,408 shares, compared to its average volume of 14,785,558. The company has a 50-day moving average of $16.71 and a 200 day moving average of $12.21. The stock has a market cap of $2.44 billion, a P/E 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 quarterly earnings results on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). The business had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.10 million.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Cantor Fitzgerald assumed coverage on Quantum Computing in a research note on Wednesday, July 2nd. They set a "neutral" rating and a $15.00 target price for the company. Ascendiant Capital Markets upped their price target 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. Finally, Wall Street Zen cut shares of Quantum Computing from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 16th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.50.

Hedge Funds Weigh In On Quantum Computing

Several institutional investors have recently bought and sold shares of the stock. J.W. Cole Advisors Inc. grew its position in shares of Quantum Computing by 3.8% in the second quarter. J.W. Cole Advisors Inc. now owns 21,070 shares of the company's stock valued at $404,000 after purchasing an additional 770 shares during the last quarter. Compagnie Lombard Odier SCmA increased its holdings in shares of Quantum Computing by 53.5% during the second quarter. Compagnie Lombard Odier SCmA now owns 2,870 shares of the company's stock worth $55,000 after buying an additional 1,000 shares in the last quarter. CWM LLC grew its holdings in Quantum Computing by 12.9% during the 2nd quarter. CWM LLC now owns 11,643 shares of the company's stock worth $223,000 after acquiring an additional 1,329 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in Quantum Computing in the 2nd quarter valued at $28,000. Finally, Hollencrest Capital Management boosted its stake in Quantum Computing by 60.0% in the first 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. 4.26% of the stock is currently owned by institutional investors.

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.

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