Quantum Computing (NASDAQ:QUBT) Lowered to Strong Sell Rating by Wall Street Zen

Key Points

• Quantum Computing's stock (NASDAQ:QUBT) has been downgraded from a "hold" to a "strong sell" rating by Wall Street Zen in a recent research report.
• The company's stock is currently down 0.4%, with a 12-month range of $0.58 to $27.15, and a market cap of $2.45 billion.
• Insider transactions have shown significant selling activity, with CFO Christopher Boehmler selling 46,440 shares for approximately $928,800, indicating a shift in insider sentiment towards the stock.

Quantum Computing (NASDAQ:QUBT - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "strong sell" rating in a research report issued on Saturday.

QUBT has been the topic of a number of other research reports. Ascendiant Capital Markets upped their price objective on Quantum Computing from $14.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Cantor Fitzgerald initiated coverage on Quantum Computing in a research note on Wednesday, July 2nd. They set a "neutral" rating and a $15.00 price objective on the stock.

Quantum Computing Stock Down 0.4%

Shares of Quantum Computing stock opened at $15.32 on Friday. Quantum Computing has a 12-month low of $0.58 and a 12-month high of $27.15. The stock has a market cap of $2.45 billion, a P/E ratio of -22.53 and a beta of 4.09. The business's 50 day moving average is $17.55 and its 200-day moving average is $11.46.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.06). The company had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.10 million.

Insiders Place Their Bets

In related news, CFO Christopher Boehmler sold 46,440 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $20.00, for a total value of $928,800.00. Following the sale, the chief financial officer owned 351,152 shares in the company, valued at approximately $7,023,040. This represents a 11.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Javad Shabani sold 39,973 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.66, for a total value of $466,085.18. The disclosure for this sale can be found here. Insiders have sold a total of 1,059,844 shares of company stock worth $14,685,149 in the last quarter. Insiders own 19.30% of the company's stock.

Institutional Investors Weigh In On Quantum Computing

Large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers bought a new stake in Quantum Computing in the 1st quarter valued at $28,000. Nisa Investment Advisors LLC acquired a new position in Quantum Computing in the 2nd quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Quantum Computing in the 2nd quarter valued at $29,000. Tower Research Capital LLC TRC acquired a new position in Quantum Computing in the 4th quarter valued at $30,000. Finally, Hollencrest Capital Management grew its holdings in Quantum Computing by 60.0% in the 1st quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock valued at $32,000 after buying an additional 1,500 shares in the last quarter. Institutional investors 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.

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