Quantum Computing (NASDAQ:QUBT) Sees Large Volume Increase - Time to Buy?

Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) saw an uptick in trading volume on Thursday . 17,025,293 shares changed hands during trading, a decline of 27% from the previous session's volume of 23,274,471 shares.The stock last traded at $12.58 and had previously closed at $12.79.

Wall Street Analysts Forecast Growth

QUBT has been the topic of several recent analyst reports. Ascendiant Capital Markets lifted their target price on 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 report on Thursday, May 22nd.

Quantum Computing Stock Performance

The business's 50 day moving average is $8.26 and its 200-day moving average is $8.85. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -42.60 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) EPS for the quarter, missing analysts' consensus estimates 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 firm earned ($0.09) earnings per share.

Insider Activity at Quantum Computing

In other news, Director Javad Shabani sold 39,973 shares of Quantum Computing stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $11.66, for a total transaction of $466,085.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Yuping Huang sold 500,000 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.70, for a total value of $5,850,000.00. Following the sale, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 739,973 shares of company stock valued at $8,012,085. Company insiders own 19.30% of the company's stock.

Institutional Trading of Quantum Computing

Large investors have recently made changes to their positions in the business. Rhumbline Advisers acquired a new position in Quantum Computing in the 1st quarter valued at about $28,000. GK Wealth Management LLC acquired a new position in Quantum Computing during the 1st quarter worth approximately $88,000. Intrua Financial LLC acquired a new stake in shares of Quantum Computing in the 1st quarter worth about $385,000. Goldman Sachs Group Inc. boosted its holdings in Quantum Computing by 0.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 326,278 shares of the company's stock worth $2,610,000 after acquiring an additional 2,280 shares during the last quarter. Finally, PharVision Advisers LLC bought a new position in shares of Quantum Computing during the 1st quarter worth $171,000. Institutional investors own 4.26% of the company's stock.

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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