Quantum Computing (NASDAQ:QUBT) Trading Down 1.7% - Time to Sell?

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) traded down 1.7% during mid-day trading on Monday . The stock traded as low as $18.84 and last traded at $19.18. 7,538,740 shares were traded during mid-day trading, a decline of 68% from the average session volume of 23,361,786 shares. The stock had previously closed at $19.51.

Analyst Ratings Changes

A number of research firms have commented on QUBT. Ascendiant Capital Markets lifted their target price on shares of Quantum Computing from $14.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Cantor Fitzgerald started coverage on Quantum Computing in a report on Wednesday, July 2nd. They set a "neutral" rating and a $15.00 price target for the company. Finally, Wall Street Zen upgraded Quantum Computing from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

Quantum Computing Stock Down 8.5%

The firm has a 50 day moving average of $15.79 and a 200-day moving average of $10.78. The company has a market cap of $2.82 billion, a P/E ratio of -37.19 and a beta of 3.96.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.18. The business had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.30 million.

Insider Buying and Selling at Quantum Computing

In other news, CFO Christopher Boehmler sold 96,679 shares of the 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 sale, the chief financial officer owned 131,060 shares of the company's stock, valued at $2,091,717.60. This represents a 42.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael C. Turmelle sold 200,986 shares of the company'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 disclosure for this sale can be found here. In the last three months, insiders sold 1,059,844 shares of company stock valued at $14,685,149. Corporate insiders own 19.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers purchased a new stake in shares of Quantum Computing during the first quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Quantum Computing during the second quarter worth about $29,000. Tower Research Capital LLC TRC purchased a new position in Quantum Computing during the fourth quarter worth about $30,000. Hollencrest Capital Management lifted its position in Quantum Computing by 60.0% in the first quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock valued at $32,000 after purchasing an additional 1,500 shares during the period. Finally, Farther Finance Advisors LLC purchased a new stake in Quantum Computing in the 4th quarter valued at approximately $33,000. 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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