Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s stock price was up 26.8% during trading on Friday . The company traded as high as $23.98 and last traded at $23.27. Approximately 98,091,176 shares were traded during mid-day trading, an increase of 309% from the average daily volume of 23,988,568 shares. The stock had previously closed at $18.35.
Wall Street Analyst Weigh In
A number of research analysts recently commented on QUBT shares. Cantor Fitzgerald started coverage on shares of Quantum Computing in a report on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 price target for the company. Ascendiant Capital Markets increased their target price 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. Lake Street Capital initiated coverage on shares of Quantum Computing in a research note on Thursday. They set a "buy" rating and a $24.00 price target for the company. Finally, Wall Street Zen lowered shares of Quantum Computing from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 16th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $20.33.
Check Out Our Latest Stock Report on QUBT
Quantum Computing Stock Performance
The stock's 50-day moving average price is $16.37 and its 200 day moving average price is $13.04.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, hitting analysts' consensus estimates of ($0.06). The business had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.10 million.
Insider Buying and Selling
In other Quantum Computing news, CRO Pouya Dianat sold 17,175 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $15.53, for a total transaction of $266,727.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Javad Shabani sold 20,000 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $267,352.20. This trade represents a 53.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,154,649 shares of company stock worth $16,805,481 over the last ninety days. 19.30% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Quantum Computing
Several institutional investors and hedge funds have recently bought and sold shares of QUBT. Rhumbline Advisers purchased a new position in Quantum Computing in the first quarter worth $28,000. Nisa Investment Advisors LLC purchased a new stake in shares of Quantum Computing during the second quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Quantum Computing during the second quarter valued at $29,000. Hollencrest Capital Management grew its holdings in shares of Quantum Computing by 60.0% during the first quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock valued at $32,000 after buying an additional 1,500 shares during the last quarter. Finally, FWL Investment Management LLC purchased a new position in shares of Quantum Computing in the second quarter worth about $33,000. 4.26% of the stock is owned by hedge funds and other institutional investors.
About Quantum Computing
(
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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