Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $8.01, but opened at $7.70. Quantum Computing shares last traded at $7.64, with a volume of 2,323,785 shares changing hands.
Analysts Set New Price Targets
Separately, Ascendiant Capital Markets boosted their price target on Quantum Computing from $8.50 to $14.00 and gave the company a "buy" rating in a research note on Monday, April 28th.
Read Our Latest Research Report on Quantum Computing
Quantum Computing Stock Up 1.8 %
The firm has a market capitalization of $1.18 billion, a PE ratio of -29.62 and a beta of 3.74. The stock's fifty day simple moving average is $6.96 and its 200 day simple moving average is $7.94.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The firm had revenue of $0.06 million during the quarter, compared to analysts' expectations of $0.20 million. During the same period last year, the business earned ($0.09) EPS.
Insider Transactions at Quantum Computing
In related news, insider Yuping Huang sold 200,000 shares of the business's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total transaction of $1,696,000.00. Following the completion of the transaction, the insider now directly owns 24,051,256 shares in the company, valued at approximately $203,954,650.88. The trade was a 0.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 31.10% of the company's stock.
Institutional Investors Weigh In On Quantum Computing
A number of institutional investors and hedge funds have recently added to or reduced their stakes in QUBT. Deutsche Bank AG purchased a new stake in shares of Quantum Computing in the first quarter worth $78,000. Charles Schwab Investment Management Inc. boosted its holdings in Quantum Computing by 66.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 50,878 shares of the company's stock worth $407,000 after buying an additional 20,305 shares during the period. Vanguard Group Inc. boosted its holdings in Quantum Computing by 24.0% in the 1st quarter. Vanguard Group Inc. now owns 5,191,404 shares of the company's stock worth $41,531,000 after buying an additional 1,004,675 shares during the period. SLT Holdings LLC purchased a new stake in shares of Quantum Computing during the first quarter worth about $262,000. Finally, Foundations Investment Advisors LLC bought a new stake in Quantum Computing during the 1st quarter valued at approximately $267,000. Institutional investors own 4.26% of the company's stock.
About Quantum Computing
(
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.
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