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Quantum Computing (NASDAQ:QUBT) Stock Price Down 2.1% After Insider Selling

Quantum Computing logo with Computer and Technology background

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s stock price was down 2.1% on Wednesday following insider selling activity. The stock traded as low as $11.03 and last traded at $11.26. Approximately 11,786,462 shares were traded during trading, a decline of 35% from the average daily volume of 18,133,919 shares. The stock had previously closed at $11.51.

Specifically, Director Javad Shabani sold 39,973 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $11.66, for a total transaction of $466,085.18. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Yuping Huang sold 500,000 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.70, for a total value of $5,850,000.00. Following the transaction, the insider now directly owns 21,236,906 shares in the company, valued at $248,471,800.20. This trade represents a 2.30% decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

Several research firms have weighed in on QUBT. Wall Street Zen raised Quantum Computing from a "strong sell" rating to a "hold" rating in a research note on Thursday. Ascendiant Capital Markets increased 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.

View Our Latest Analysis on QUBT

Quantum Computing Stock Up 10.3%

The firm has a fifty day simple moving average of $7.94 and a 200-day simple moving average of $8.66. The company has a market capitalization of $1.88 billion, a P/E ratio of -45.90 and a beta of 3.74.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The business had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.20 million. During the same period in the prior year, the business earned ($0.09) EPS.

Institutional Investors Weigh In On Quantum Computing

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Quantum Computing by 24.0% during the first quarter. Vanguard Group Inc. now owns 5,191,404 shares of the company's stock worth $41,531,000 after buying an additional 1,004,675 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Quantum Computing during the fourth quarter worth about $69,613,000. Anson Funds Management LP bought a new position in shares of Quantum Computing during the fourth quarter worth about $70,006,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Quantum Computing during the first quarter valued at approximately $7,084,000. Finally, Rockefeller Capital Management L.P. acquired a new position in Quantum Computing during the fourth quarter valued at approximately $13,953,000. 4.26% of the stock is currently 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.

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