Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) were down 7.4% during trading on Monday . The stock traded as low as $15.50 and last traded at $17.48. Approximately 23,892,147 shares changed hands during mid-day trading, an increase of 10% from the average daily volume of 21,735,962 shares. The stock had previously closed at $18.88.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on QUBT shares. Ascendiant Capital Markets boosted their price objective on shares of Quantum Computing from $14.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Wall Street Zen upgraded shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd.
Check Out Our Latest Analysis on Quantum Computing
Quantum Computing Stock Performance
The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of -35.70 and a beta of 3.85. The company's 50 day moving average is $11.08 and its 200 day moving average is $10.18.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.18. The company had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.30 million.
Insider Activity at Quantum Computing
In other news, CFO Christopher Boehmler sold 46,440 shares of the stock in a transaction on 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 transaction, the chief financial officer now owns 351,152 shares in the company, valued at approximately $7,023,040. This represents a 11.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Yuping Huang sold 200,000 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total transaction of $1,696,000.00. Following the sale, the insider now owns 24,051,256 shares of the company's stock, valued at $203,954,650.88. This trade represents a 0.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,259,844 shares of company stock worth $16,381,149 in the last ninety days. 19.30% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Quantum Computing
A number of institutional investors have recently modified their holdings of the stock. Rhumbline Advisers acquired a new stake in shares of Quantum Computing in the first quarter valued at approximately $28,000. GK Wealth Management LLC acquired a new position in Quantum Computing during the 1st quarter worth $88,000. Intrua Financial LLC acquired a new position in Quantum Computing during the 1st quarter worth $385,000. Goldman Sachs Group Inc. lifted its holdings in Quantum Computing by 0.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 326,278 shares of the company's stock worth $2,610,000 after buying an additional 2,280 shares in the last quarter. Finally, PharVision Advisers LLC acquired a new position in Quantum Computing during the 1st quarter worth $171,000. 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.
See Also
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