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

Key Points

• Quantum Computing Inc. (NASDAQ:QUBT) experienced a **36% increase** in trading volume, with nearly **31.96 million shares** traded, pushing its stock price up to **$23.14**, up from **$18.35**.
• Analysts have mixed opinions on QUBT, with **Cantor Fitzgerald** issuing a "neutral" rating at a **$15.00** target, while **Lake Street Capital** set a "**buy**" rating with a target price of **$24.00**.
• Insider activity includes CEO **Yuping Huang** selling **1 million shares** for approximately **$14.41 million**, reducing his stake by **4.49%**, while institutional investor interest has increased with **Osaic Holdings** boosting their position by **166.2%** in the last quarter.

Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) saw unusually-high trading volume on Friday . Approximately 31,960,494 shares traded hands during mid-day trading, an increase of 36% from the previous session's volume of 23,553,361 shares.The stock last traded at $23.14 and had previously closed at $18.35.

Analysts Set New Price Targets

Several research analysts have recently commented on QUBT shares. Cantor Fitzgerald started coverage on Quantum Computing in a research note on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 price objective on the stock. Wall Street Zen cut Quantum Computing from a "hold" rating to a "strong sell" rating in a report on Saturday, August 16th. Lake Street Capital initiated coverage on Quantum Computing in a report on Thursday. They issued a "buy" rating and a $24.00 target price for the company. Finally, Ascendiant Capital Markets lifted their target price on Quantum Computing from $14.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.33.

Quantum Computing Stock Performance

The stock has a fifty day moving average price of $16.23 and a 200-day moving average price of $12.70. The firm has a market capitalization of $3.65 billion, a PE ratio of -33.49 and a beta of 3.88.

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

Insider Buying and Selling

In other news, CEO Yuping Huang sold 1,000,000 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $14.41, for a total transaction of $14,410,000.00. Following the completion of the transaction, the chief executive officer directly owned 21,287,718 shares in the company, valued at $306,756,016.38. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Javad Shabani sold 17,474 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $15.26, for a total value of $266,653.24. The disclosure for this sale can be found here. Insiders have sold 1,154,649 shares of company stock valued at $16,805,481 over the last ninety days. 19.30% of the stock is currently owned by company insiders.

Institutional Trading of Quantum Computing

Hedge funds and other institutional investors have recently bought and sold shares of the business. Osaic Holdings Inc. increased its position in shares of Quantum Computing by 166.2% during the second quarter. Osaic Holdings Inc. now owns 125,607 shares of the company's stock worth $2,408,000 after purchasing an additional 78,424 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Quantum Computing by 37.3% during the second quarter. Squarepoint Ops LLC now owns 38,447 shares of the company's stock worth $737,000 after buying an additional 10,447 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in Quantum Computing by 142.9% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,959 shares of the company's stock valued at $76,000 after purchasing an additional 2,329 shares in the last quarter. Marex Group plc purchased a new stake in Quantum Computing in the 2nd quarter valued at approximately $6,759,000. Finally, Hollencrest Capital Management boosted its holdings in Quantum Computing by 56.3% in the 2nd quarter. Hollencrest Capital Management now owns 6,250 shares of the company's stock valued at $120,000 after purchasing an additional 2,250 shares in the last quarter. 4.26% of the stock is currently 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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