Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 34,829,456 shares traded hands during trading, an increase of 88% from the previous session's volume of 18,534,222 shares.The stock last traded at $13.90 and had previously closed at $12.07.
Analysts Set New Price Targets
A number of brokerages have weighed in on QUBT. Ascendiant Capital Markets lifted their price target on shares of Quantum Computing from $8.50 to $14.00 and gave the company a "buy" rating in a research report on Monday, April 28th. Wall Street Zen upgraded shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a research note on Thursday.
Get Our Latest Analysis on QUBT
Quantum Computing Trading Up 13.1%
The company has a market cap of $1.92 billion, a PE ratio of -46.99 and a beta of 3.74. The business has a 50 day simple moving average of $7.84 and a two-hundred day simple moving average of $8.52.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The business had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.20 million. During the same quarter in the previous year, the company earned ($0.09) EPS.
Insider Activity
In other news, Director Javad Shabani sold 39,973 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $11.66, for a total transaction of $466,085.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Yuping Huang sold 500,000 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $11.70, for a total value of $5,850,000.00. Following the sale, the insider now owns 21,236,906 shares in the company, valued at approximately $248,471,800.20. The trade was a 2.30% decrease in their position. 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. Insiders own 19.30% of the company's stock.
Hedge Funds Weigh In On Quantum Computing
Several institutional investors have recently added to or reduced their stakes in QUBT. Tower Research Capital LLC TRC acquired a new position in Quantum Computing in the fourth quarter worth $30,000. IFP Advisors Inc acquired a new position in shares of Quantum Computing in the 4th quarter valued at approximately $33,000. Farther Finance Advisors LLC acquired a new position in Quantum Computing during the 4th quarter worth approximately $33,000. Archer Investment Corp bought a new position in shares of Quantum Computing during the 4th quarter worth approximately $33,000. Finally, Hollencrest Capital Management acquired a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $41,000. 4.26% of the stock is owned by institutional investors.
Quantum Computing Company Profile
(
Get Free Report)
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.
Further Reading
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