Quantum Computing (NASDAQ:QUBT) Stock Price Down 1.4% - Should You Sell?

Key Points

• Quantum Computing Inc. (NASDAQ:QUBT) experienced a 1.4% decline in stock price, trading at $15.97 during mid-day on Wednesday, down from a previous close of $16.20.
• Analysts have mixed opinions on QUBT, with Ascendiant Capital Markets raising their target price from $14.00 to $22.00 and giving a "buy" rating, while Wall Street Zen downgraded the stock to a "strong sell."
• CEO Yuping Huang sold 1,000,000 shares at an average price of $14.41, reducing his ownership by 4.49%, amid recent insider transactions totaling over $16 million in shares sold in the last 90 days.

Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) traded down 1.4% during trading on Wednesday . The stock traded as low as $15.75 and last traded at $15.97. 4,354,942 shares traded hands during trading, a decline of 81% from the average session volume of 23,312,836 shares. The stock had previously closed at $16.20.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Ascendiant Capital Markets raised their price target on Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a report on Friday, June 6th. Cantor Fitzgerald assumed coverage on Quantum Computing in a report on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 price target on the stock. Finally, Wall Street Zen cut Quantum Computing from a "hold" rating to a "strong sell" rating in a report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $18.50.

Quantum Computing Stock Up 4.8%

The firm has a market cap of $2.66 billion, a P/E ratio of -24.39 and a beta of 3.88. The firm has a fifty day moving average of $16.46 and a 200-day moving average of $12.32.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.06). The company had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.10 million.

Insiders Place Their Bets

In other Quantum Computing news, Director Javad Shabani sold 20,000 shares of the firm's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $15.30, for a total transaction of $306,000.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yuping Huang sold 1,000,000 shares of the firm's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $14.41, for a total value of $14,410,000.00. Following the transaction, the chief executive officer owned 21,287,718 shares in the company, valued at approximately $306,756,016.38. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,054,649 shares of company stock worth $15,249,381. Insiders own 19.30% of the company's stock.

Hedge Funds Weigh In On Quantum Computing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. raised its position in shares of Quantum Computing by 166.2% during the second quarter. Osaic Holdings Inc. now owns 125,607 shares of the company's stock worth $2,408,000 after purchasing an additional 78,424 shares during the period. Squarepoint Ops LLC raised its position in shares of Quantum Computing by 37.3% during the second quarter. Squarepoint Ops LLC now owns 38,447 shares of the company's stock worth $737,000 after purchasing an additional 10,447 shares during the period. Newbridge Financial Services Group Inc. raised its position in shares of Quantum Computing by 142.9% during the second quarter. Newbridge Financial Services Group Inc. now owns 3,959 shares of the company's stock worth $76,000 after purchasing an additional 2,329 shares during the period. Marex Group plc acquired a new stake in shares of Quantum Computing during the second quarter worth about $6,759,000. Finally, Hollencrest Capital Management raised its position in shares of Quantum Computing by 56.3% during the second quarter. Hollencrest Capital Management now owns 6,250 shares of the company's stock worth $120,000 after purchasing an additional 2,250 shares during the period. Institutional investors own 4.26% of the company's stock.

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.