Quantum Computing (NASDAQ:QUBT) Shares Down 5% - What's Next?

Key Points

• Quantum Computing Inc. (NASDAQ:QUBT) shares fell 5% to $15.10 on Tuesday, experiencing a significant decline in trading volume, down 84% from its average.
• Analysts have mixed views on the stock; while Ascendiant Capital Markets raised its price target to $22.00, Wall Street Zen downgraded it to a "strong sell."
• Insiders have sold a total of 519,871 shares within the last three months, including significant sales by the CFO and a director, indicating potential concerns about the company's outlook.

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares were down 5% during trading on Tuesday . The company traded as low as $15.13 and last traded at $15.10. Approximately 3,832,795 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 24,131,033 shares. The stock had previously closed at $15.90.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Ascendiant Capital Markets upped their price target on shares of Quantum Computing from $14.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Cantor Fitzgerald began coverage on shares of Quantum Computing in a research report on Wednesday, July 2nd. They set a "neutral" rating and a $15.00 price objective for the company. Finally, Wall Street Zen cut shares of Quantum Computing from a "hold" rating to a "strong sell" rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.50.

Quantum Computing Price Performance

The company's 50-day moving average price is $17.59 and its two-hundred day moving average price is $11.51. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of -22.07 and a beta of 4.09.

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

Insider Buying and Selling at Quantum Computing

In other Quantum Computing news, CFO Christopher Boehmler sold 96,679 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $15.96, for a total value of $1,542,996.84. Following the transaction, the chief financial officer directly owned 131,060 shares of the company's stock, valued at approximately $2,091,717.60. This trade represents a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael C. Turmelle sold 200,986 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $14.18, for a total transaction of $2,849,981.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 519,871 shares of company stock worth $8,369,064. 19.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in QUBT. J.W. Cole Advisors Inc. lifted its position in shares of Quantum Computing by 3.8% during the second quarter. J.W. Cole Advisors Inc. now owns 21,070 shares of the company's stock valued at $404,000 after purchasing an additional 770 shares in the last quarter. Compagnie Lombard Odier SCmA lifted its position in shares of Quantum Computing by 53.5% during 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 in the last quarter. CWM LLC lifted its position in shares of Quantum Computing by 12.9% during the second quarter. CWM LLC now owns 11,643 shares of the company's stock valued at $223,000 after purchasing an additional 1,329 shares in the last quarter. Nisa Investment Advisors LLC bought a new position in shares of Quantum Computing during the second quarter valued at about $28,000. Finally, Hollencrest Capital Management lifted its position in shares of Quantum Computing by 60.0% during the first quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock valued at $32,000 after purchasing an additional 1,500 shares in the last quarter. 4.26% of the stock is owned by institutional investors.

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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