Quantum Computing (NASDAQ:QUBT) Shares Gap Down on Insider Selling

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares gapped down before the market opened on Tuesday after an insider sold shares in the company. The stock had previously closed at $21.22, but opened at $19.87. Quantum Computing shares last traded at $19.98, with a volume of 8,236,469 shares trading hands.

Specifically, CFO Christopher Boehmler sold 46,440 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $20.00, for a total value of $928,800.00. Following the completion of the sale, the chief financial officer now directly owns 351,152 shares in the company, valued at approximately $7,023,040. This trade represents a 11.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Christopher Boehmler sold 83,495 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $19.92, for a total transaction of $1,663,220.40. Following the sale, the chief financial officer now owns 47,565 shares of the company's stock, valued at approximately $947,494.80. This represents a 63.71% decrease in their position. The disclosure for this sale can be found here. In other news, CFO Christopher Boehmler sold 96,679 shares of the business's stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 131,060 shares of the company's stock, valued at approximately $2,091,717.60. The trade was a 42.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on QUBT shares. Ascendiant Capital Markets increased their target price on shares of Quantum Computing from $14.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Wall Street Zen raised Quantum Computing from a "strong sell" rating to a "hold" rating in a report on Thursday, May 22nd.

Quantum Computing Trading Down 5.0%

The firm has a 50-day moving average of $10.09 and a two-hundred day moving average of $9.83. The firm has a market capitalization of $2.84 billion, a P/E ratio of -69.42 and a beta of 3.85.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.42). The firm had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.20 million. During the same quarter in the prior year, the firm posted ($0.09) EPS.

Hedge Funds Weigh In On Quantum Computing

Several large investors have recently bought and sold shares of the company. Anson Funds Management LP bought a new stake in shares of Quantum Computing in the fourth quarter worth $70,006,000. Alyeska Investment Group L.P. acquired a new stake in shares of Quantum Computing in the fourth quarter valued at about $69,613,000. Vanguard Group Inc. raised its position in shares of Quantum Computing by 83.6% during the fourth quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company's stock worth $69,290,000 after acquiring an additional 1,906,749 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Quantum Computing in the first quarter worth approximately $7,084,000. Finally, Rockefeller Capital Management L.P. bought a new stake in Quantum Computing in the fourth quarter valued at approximately $13,953,000. 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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