Quantum Computing (NASDAQ:QUBT) Shares Down 2.3% - Time to Sell?

Key Points

• Quantum Computing Inc. (NASDAQ:QUBT) saw its shares decline by 2.3% during trading on Tuesday, closing at $18.41 after trading as low as $18.21.
• Investment ratings show a mixed outlook, with Lake Street Capital initiating a "buy" rating with a $24.00 target price, while Wall Street Zen downgraded the stock from "hold" to "strong sell."
• Insider selling activity is notable, with approximately 1.15 million shares worth over $16.8 million sold in the last ninety days, indicating potential concerns about the company’s future performance.

Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) were down 2.3% during trading on Tuesday . The stock traded as low as $18.21 and last traded at $18.41. Approximately 20,747,651 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 24,849,904 shares. The stock had previously closed at $18.85.

Analyst Ratings Changes

QUBT has been the subject of a number of research reports. Lake Street Capital initiated coverage on shares of Quantum Computing in a research report on Thursday, September 18th. They set a "buy" rating and a $24.00 target price for the company. Wall Street Zen downgraded shares of Quantum Computing from a "hold" rating to a "strong sell" rating in a report on Saturday, August 16th. Ascendiant Capital Markets raised their price objective on Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Cantor Fitzgerald started coverage on Quantum Computing in a report on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Quantum Computing has a consensus rating of "Moderate Buy" and a consensus target price of $20.33.

Quantum Computing Price Performance

The firm has a market capitalization of $2.94 billion, a PE ratio of -27.07 and a beta of 3.88. The business has a 50-day simple moving average of $16.56 and a 200-day simple moving average of $13.57.

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

Insider Activity

In related news, Director Robert B. Fagenson sold 5,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $16.88, for a total value of $84,400.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Pouya Dianat sold 17,175 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $15.53, for a total transaction of $266,727.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,154,649 shares of company stock worth $16,805,481. Insiders own 19.30% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in QUBT. Nisa Investment Advisors LLC bought a new stake in Quantum Computing during the 2nd quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Quantum Computing during the second quarter worth approximately $29,000. FWL Investment Management LLC purchased a new position in shares of Quantum Computing during the second quarter worth approximately $33,000. Allworth Financial LP bought a new stake in shares of Quantum Computing during the second quarter valued at approximately $42,000. Finally, Compagnie Lombard Odier SCmA boosted its holdings in shares of Quantum Computing by 53.5% in the second quarter. Compagnie Lombard Odier SCmA now owns 2,870 shares of the company's stock valued at $55,000 after purchasing an additional 1,000 shares during the period. 4.26% of the stock is currently owned by institutional investors.

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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