Quantum Computing (NASDAQ:QUBT) Stock Price Down 1.3% - Time to Sell?

Key Points

• Quantum Computing Inc. (NASDAQ:QUBT) saw its stock price decrease by 1.3% during mid-day trading, with a notable decline in trading volume that fell 81% from the average session.
• Analysts have mixed opinions on QUBT, with Cantor Fitzgerald giving a "neutral" rating and a price target of $15.00, while Ascendiant Capital Markets rated it a "buy" with a price target raised to $22.00.
• Insider trading activity included CFO Christopher Boehmler selling 46,440 shares at approximately $20.00, which represents an 11.68% decrease in his holdings.

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) fell 1.3% during mid-day trading on Monday . The stock traded as low as $16.31 and last traded at $16.49. 4,720,605 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 25,085,889 shares. The stock had previously closed at $16.71.

Analyst Ratings Changes

Several research firms have recently weighed in on QUBT. Cantor Fitzgerald began coverage on shares of Quantum Computing in a report on Wednesday, July 2nd. They set a "neutral" rating and a $15.00 price objective for the company. Wall Street Zen raised shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Ascendiant Capital Markets upped 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.

Quantum Computing Stock Performance

The company's fifty day moving average price is $16.52 and its 200-day moving average price is $10.87. The stock has a market cap of $2.52 billion, a P/E ratio of -33.38 and a beta of 3.96.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.18. The company had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.30 million.

Insider Buying and Selling at Quantum Computing

In other news, CFO Christopher Boehmler sold 46,440 shares of the business'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 owned 351,152 shares in the company, valued at approximately $7,023,040. The trade was a 11.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Yuping Huang sold 500,000 shares of Quantum Computing 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 directly owned 21,236,906 shares in the company, valued at approximately $248,471,800.20. The trade was a 2.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,059,844 shares of company stock worth $14,685,149. 19.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of QUBT. Alyeska Investment Group L.P. purchased a new position in shares of Quantum Computing in the 4th quarter worth approximately $69,613,000. Anson Funds Management LP purchased a new stake in Quantum Computing during the 4th quarter worth approximately $70,006,000. Vanguard Group Inc. grew its position in Quantum Computing by 83.6% during the 4th quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company's stock worth $69,290,000 after purchasing an additional 1,906,749 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Quantum Computing during the 1st quarter worth approximately $7,084,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in Quantum Computing during the 4th quarter worth approximately $13,953,000. Hedge funds and other institutional investors own 4.26% of the company's stock.

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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