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

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $12.87, but opened at $12.09. Quantum Computing shares last traded at $11.64, with a volume of 14,563,588 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on QUBT shares. Ascendiant Capital Markets boosted their target price on Quantum Computing from $8.50 to $14.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. Wall Street Zen upgraded Quantum Computing from a "strong sell" rating to a "hold" rating in a research note on Thursday.

Quantum Computing Stock Performance

The stock's 50 day simple moving average is $7.84 and its 200-day simple moving average is $8.52. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -45.90 and a beta of 3.74.

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

Insider Activity

In related news, Director Javad Shabani sold 39,973 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $11.66, for a total value of $466,085.18. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Yuping Huang sold 500,000 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $11.70, for a total transaction of $5,850,000.00. Following the completion of the transaction, the insider now owns 21,236,906 shares in the company, valued at approximately $248,471,800.20. This trade represents a 2.30% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 739,973 shares of company stock valued at $8,012,085. Company insiders own 19.30% of the company's stock.

Hedge Funds Weigh In On Quantum Computing

Several institutional investors have recently made changes to their positions in QUBT. Rhumbline Advisers purchased a new position in Quantum Computing in the 1st quarter valued at about $28,000. Tower Research Capital LLC TRC purchased a new stake in shares of Quantum Computing in the fourth quarter valued at about $30,000. Hollencrest Capital Management grew its stake in shares of Quantum Computing by 60.0% in the 1st quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock valued at $32,000 after buying an additional 1,500 shares during the period. Archer Investment Corp acquired a new stake in Quantum Computing during the fourth quarter worth $33,000. Finally, IFP Advisors Inc acquired a new stake in shares of Quantum Computing during the 4th quarter worth about $33,000. 4.26% of the stock is owned by hedge funds and other 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.