Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $13.31, but opened at $13.98. Quantum Computing shares last traded at $13.21, with a volume of 12,625,732 shares traded.
Analyst Ratings Changes
Several analysts have recently weighed in on QUBT shares. Ascendiant Capital Markets raised their target price on 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 upgraded Quantum Computing from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd.
Read Our Latest Stock Analysis on Quantum Computing
Quantum Computing Trading Down 1.9%
The stock has a market capitalization of $1.84 billion, a P/E ratio of -45.14 and a beta of 3.74. The company's 50-day moving average is $8.04 and its two-hundred day moving average is $8.79.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued 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 business had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.20 million. During the same period last year, the firm earned ($0.09) earnings per share.
Insider Activity
In other news, Director Javad Shabani sold 39,973 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $11.66, for a total transaction of $466,085.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $5,850,000.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 739,973 shares of company stock valued at $8,012,085. Insiders own 19.30% of the company's stock.
Hedge Funds Weigh In On Quantum Computing
Several institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers bought a new position in Quantum Computing in the first quarter valued at $28,000. Tower Research Capital LLC TRC bought a new stake in shares of Quantum Computing in the fourth quarter valued at about $30,000. Hollencrest Capital Management increased its stake 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 during the period. Archer Investment Corp acquired a new position in shares of Quantum Computing in the 4th quarter valued at approximately $33,000. Finally, IFP Advisors Inc bought a new stake in Quantum Computing during the fourth quarter worth $33,000. 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.
See Also
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