Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares rose 4.8% on Thursday . The company traded as high as $19.25 and last traded at $19.29. Approximately 8,159,831 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 23,089,687 shares. The stock had previously closed at $18.40.
Analyst Ratings Changes
Several analysts have issued reports on QUBT shares. Wall Street Zen raised shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a report on Thursday, May 22nd. Ascendiant Capital Markets upped their target price on Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Finally, Cantor Fitzgerald assumed coverage on Quantum Computing in a research report on Wednesday, July 2nd. They set a "neutral" rating and a $15.00 price objective for the company.
View Our Latest Stock Report on QUBT
Quantum Computing Trading Down 1.3%
The firm has a market cap of $3.08 billion, a P/E ratio of -40.64 and a beta of 3.96. The business's 50-day moving average is $15.79 and its two-hundred day moving average is $10.84.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.18. The firm had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.30 million.
Insider Buying and Selling at Quantum Computing
In other news, Director Michael C. Turmelle sold 200,986 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $14.18, for a total transaction of $2,849,981.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Christopher Boehmler sold 96,679 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $15.96, for a total value of $1,542,996.84. Following the completion of the transaction, the chief financial officer directly owned 131,060 shares of the company's stock, valued at approximately $2,091,717.60. This trade represents a 42.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,059,844 shares of company stock worth $14,685,149 over the last quarter. Company insiders own 19.30% of the company's stock.
Institutional Investors Weigh In On Quantum Computing
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Quantum Computing by 24.0% in the first quarter. Vanguard Group Inc. now owns 5,191,404 shares of the company's stock valued at $41,531,000 after purchasing an additional 1,004,675 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in Quantum Computing in the fourth quarter valued at approximately $69,613,000. Anson Funds Management LP acquired a new stake in Quantum Computing in the fourth quarter worth $70,006,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Quantum Computing during the first quarter worth $7,084,000. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of Quantum Computing in the 4th quarter valued at $13,953,000. Institutional investors and hedge funds own 4.26% of the company's stock.
Quantum Computing Company Profile
(
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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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