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

Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $12.43, but opened at $12.06. Quantum Computing shares last traded at $11.75, with a volume of 3,662,524 shares changing hands.

Analyst Upgrades and Downgrades

QUBT has been the subject of several recent analyst reports. Ascendiant Capital Markets upped their target price on shares of Quantum Computing from $8.50 to $14.00 and gave the company a "buy" rating in a research note on Monday, April 28th. Wall Street Zen raised Quantum Computing from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

Quantum Computing Stock Performance

The stock has a fifty day simple moving average of $8.39 and a 200-day simple moving average of $9.07. The stock has a market cap of $1.66 billion, a P/E ratio of -40.69 and a beta of 3.74.

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 analysts' consensus estimates of ($0.05) by ($0.42). The company had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.20 million. During the same period in the previous year, the firm posted ($0.09) EPS.

Insiders Place Their Bets

In other news, insider Yuping Huang sold 200,000 shares of the 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 transaction, the insider now owns 24,051,256 shares in the company, valued at approximately $203,954,650.88. This trade represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Javad Shabani sold 39,973 shares of Quantum Computing stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $11.66, for a total transaction of $466,085.18. The disclosure for this sale can be found here. Insiders have sold a total of 739,973 shares of company stock valued at $8,012,085 over the last 90 days. 19.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Quantum Computing

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Quantum Computing by 24.0% in the first quarter. Vanguard Group Inc. now owns 5,191,404 shares of the company's stock valued at $41,531,000 after acquiring an additional 1,004,675 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Quantum Computing in the 4th quarter valued at $69,613,000. Anson Funds Management LP acquired a new position in shares of Quantum Computing during the 4th quarter worth $70,006,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Quantum Computing during the 1st quarter worth $7,084,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in Quantum Computing in the fourth quarter valued at about $13,953,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

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.