Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s stock price rose 15.2% during mid-day trading on Friday . The company traded as high as $14.13 and last traded at $13.90. Approximately 38,083,584 shares were traded during trading, an increase of 105% from the average daily volume of 18,544,781 shares. The stock had previously closed at $12.07.
Analyst Upgrades and Downgrades
Several research firms have commented on QUBT. Wall Street Zen upgraded Quantum Computing from a "strong sell" rating to a "hold" rating in a research note on Thursday. Ascendiant Capital Markets boosted their price objective on shares of Quantum Computing from $8.50 to $14.00 and gave the stock a "buy" rating in a research report on Monday, April 28th.
Check Out Our Latest Stock Analysis on QUBT
Quantum Computing Stock Performance
The company has a fifty day moving average price of $7.84 and a two-hundred day moving average price of $8.52. The company has a market cap of $1.92 billion, a P/E ratio of -46.99 and a beta of 3.74.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.47) 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 period in the previous year, the business earned ($0.09) earnings per share.
Insider Activity at Quantum Computing
In related news, Director Javad Shabani sold 39,973 shares of the business'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 transaction of $466,085.18. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Yuping Huang sold 500,000 shares of Quantum Computing stock in a transaction 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 transaction, the insider now directly owns 21,236,906 shares of the company's stock, 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. Over the last three months, insiders sold 739,973 shares of company stock valued at $8,012,085. 19.30% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Quantum Computing
Large investors have recently modified their holdings of the stock. Hollencrest Capital Management grew its stake in 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 last quarter. Tower Research Capital LLC TRC acquired a new stake in Quantum Computing during the fourth quarter worth approximately $30,000. IFP Advisors Inc bought a new stake in shares of Quantum Computing during the fourth quarter worth approximately $33,000. Farther Finance Advisors LLC acquired a new position in shares of Quantum Computing in the fourth quarter valued at approximately $33,000. Finally, Archer Investment Corp acquired a new position in Quantum Computing in the 4th quarter valued at $33,000. 4.26% of the stock is owned by institutional investors.
Quantum Computing Company Profile
(
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.
Further Reading
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