Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $15.38, but opened at $14.89. Quantum Computing shares last traded at $15.38, with a volume of 4,358,328 shares.
Analyst Ratings Changes
Several research firms have weighed in on QUBT. Cantor Fitzgerald initiated coverage on shares of Quantum Computing in a report on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 target price on the stock. Ascendiant Capital Markets upped their price objective on Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, Wall Street Zen lowered Quantum Computing from a "hold" rating to a "strong sell" rating in a research report on Saturday.
Read Our Latest Report on Quantum Computing
Quantum Computing Trading Up 3.8%
The firm's fifty day moving average is $17.59 and its 200-day moving average is $11.51. The stock has a market capitalization of $2.54 billion, a PE ratio of -23.38 and a beta of 4.09.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.06). The company had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.10 million.
Insider Activity
In other news, CFO Christopher Boehmler sold 96,679 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $15.96, for a total transaction of $1,542,996.84. Following the sale, the chief financial officer owned 131,060 shares of the company's stock, valued at approximately $2,091,717.60. This represents a 42.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael C. Turmelle sold 200,986 shares of the firm's stock in a transaction that occurred 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 ninety days, insiders sold 519,871 shares of company stock valued at $8,369,064. 19.30% of the stock is currently owned by corporate insiders.
Institutional Trading of Quantum Computing
Hedge funds have recently modified their holdings of the stock. J.W. Cole Advisors Inc. boosted its stake in shares of Quantum Computing by 3.8% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 21,070 shares of the company's stock valued at $404,000 after buying an additional 770 shares during the period. Compagnie Lombard Odier SCmA raised its holdings in 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 acquiring an additional 1,000 shares in the last quarter. CWM LLC lifted its stake in Quantum Computing by 12.9% in the second quarter. CWM LLC now owns 11,643 shares of the company's stock worth $223,000 after acquiring an additional 1,329 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in Quantum Computing during the 2nd quarter worth approximately $28,000. Finally, Hollencrest Capital Management grew its holdings in Quantum Computing by 60.0% during the 1st quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock worth $32,000 after acquiring an additional 1,500 shares in the last quarter. 4.26% of the stock is currently owned by institutional investors and hedge funds.
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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