Quantum Computing (NASDAQ:QUBT) Stock Price Down 3% Following Insider Selling

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares were down 3% on Tuesday following insider selling activity. The company traded as low as $19.18 and last traded at $20.58. Approximately 22,060,856 shares changed hands during mid-day trading, an increase of 4% from the average daily volume of 21,165,691 shares. The stock had previously closed at $21.22.

Specifically, CFO Christopher Boehmler sold 46,440 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $20.00, for a total transaction of $928,800.00. Following the sale, the chief financial officer now directly owns 351,152 shares of the company's stock, valued at $7,023,040. The trade was a 11.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Christopher Boehmler sold 83,495 shares of Quantum Computing stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $19.92, for a total transaction of $1,663,220.40. Following the transaction, the chief financial officer now directly owns 47,565 shares of the company's stock, valued at approximately $947,494.80. This represents a 63.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CFO Christopher Boehmler sold 96,679 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $15.96, for a total transaction of $1,542,996.84. Following the transaction, the chief financial officer now owns 131,060 shares of the company's stock, valued at approximately $2,091,717.60. This represents a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on QUBT shares. Ascendiant Capital Markets increased their price objective on shares of Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Wall Street Zen raised shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a report on Thursday, May 22nd.

Quantum Computing Stock Down 2.3%

The company has a market cap of $2.92 billion, a price-to-earnings ratio of -71.54 and a beta of 3.85. The business's fifty day simple moving average is $10.09 and its two-hundred day simple moving average is $9.83.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $0.20 million. During the same quarter in the prior year, the firm earned ($0.09) earnings per share.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC acquired a new position in Quantum Computing in the 4th quarter valued at $30,000. Farther Finance Advisors LLC acquired a new position in shares of Quantum Computing during the fourth quarter worth about $33,000. IFP Advisors Inc acquired a new position in shares of Quantum Computing during the fourth quarter worth about $33,000. Hollencrest Capital Management purchased a new position in Quantum Computing during the fourth quarter worth about $41,000. Finally, Signaturefd LLC acquired a new stake in Quantum Computing in the fourth quarter valued at about $43,000. Institutional investors and hedge funds 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.

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