Quantum Computing (NASDAQ:QUBT) Shares Up 1.5% - Time to Buy?

Key Points

• Quantum Computing Inc. (NASDAQ:QUBT) shares rose by 1.5% during mid-day trading, with a significant trading volume increase of 102% compared to its average session volume.
• Brokerage reports show mixed ratings for QUBT, ranging from a "strong sell" by Wall Street Zen to a "buy" rating with a $24 price target from Lake Street Capital.
• Recent insider selling has been noted, including CEO Yuping Huang selling 1,000,000 shares valued at over $14 million, reducing his ownership by nearly 4.5%.

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares shot up 1.5% during mid-day trading on Tuesday . The stock traded as high as $23.34 and last traded at $21.78. 53,747,069 shares were traded during mid-day trading, an increase of 102% from the average session volume of 26,659,805 shares. The stock had previously closed at $21.46.

Analysts Set New Price Targets

A number of brokerages recently issued reports on QUBT. Wall Street Zen lowered Quantum Computing from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 16th. Lake Street Capital initiated coverage on shares of Quantum Computing in a report on Thursday, September 18th. They issued a "buy" rating and a $24.00 price objective on the stock. Ascendiant Capital Markets lifted their price target on shares of Quantum Computing from $22.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, October 3rd. Cantor Fitzgerald began coverage on shares of Quantum Computing in a research note on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 price target on the stock. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Quantum Computing in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Quantum Computing has a consensus rating of "Hold" and an average target price of $26.33.

Quantum Computing Trading Up 1.5%

The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of -32.03 and a beta of 3.85. The firm's 50 day moving average price is $17.54 and its two-hundred day moving average price is $14.46.

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, hitting analysts' consensus estimates of ($0.06). The business had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.10 million.

Insider Activity at Quantum Computing

In other Quantum Computing news, CEO Yuping Huang sold 1,000,000 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $14.41, for a total value of $14,410,000.00. Following the transaction, the chief executive officer directly owned 21,287,718 shares in the company, valued at $306,756,016.38. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Javad Shabani sold 20,000 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $15.30, for a total transaction of $306,000.00. Following the completion of the transaction, the director owned 17,474 shares in the company, valued at approximately $267,352.20. This trade represents a 53.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,154,649 shares of company stock valued at $16,805,481 in the last ninety days. Company insiders own 19.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QUBT. Nisa Investment Advisors LLC acquired a new position in shares of Quantum Computing in the second quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Quantum Computing during the 2nd quarter worth approximately $29,000. Farther Finance Advisors LLC grew its position in Quantum Computing by 724.7% during the third quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company's stock worth $28,000 after buying an additional 1,319 shares in the last quarter. FWL Investment Management LLC acquired a new stake in Quantum Computing during the second quarter worth approximately $33,000. Finally, Toth Financial Advisory Corp grew its position in Quantum Computing by 100.0% during the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the company's stock worth $37,000 after buying an additional 1,000 shares in the last quarter. 4.26% of the stock is owned by institutional investors and hedge funds.

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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