Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s share price traded down 2.1% during trading on Friday . The stock traded as low as $19.75 and last traded at $20.15. 54,654,710 shares were traded during trading, an increase of 120% from the average session volume of 24,828,238 shares. The stock had previously closed at $20.58.
Wall Street Analyst Weigh In
QUBT has been the subject of several recent analyst reports. Cantor Fitzgerald initiated coverage on shares of Quantum Computing in a research note on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 target price for the company. Lake Street Capital began coverage on Quantum Computing in a research note on Thursday, September 18th. They issued a "buy" rating and a $24.00 price target on the stock. Ascendiant Capital Markets increased their price objective on Quantum Computing from $14.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. 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 analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Quantum Computing presently has a consensus rating of "Moderate Buy" and an average price target of $20.33.
Check Out Our Latest Stock Report on QUBT
Quantum Computing Price Performance
The firm has a market cap of $3.22 billion, a price-to-earnings ratio of -29.63 and a beta of 3.88. The business's 50-day moving average price is $16.52 and its two-hundred day moving average price is $13.27.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). The firm had revenue of $0.06 million during the quarter, compared to analysts' expectations of $0.10 million.
Insiders Place Their Bets
In related news, CEO Yuping Huang sold 1,000,000 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $14.41, for a total value of $14,410,000.00. Following the sale, the chief executive officer directly owned 21,287,718 shares of the company's stock, valued at approximately $306,756,016.38. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Javad Shabani sold 20,000 shares of the business's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $15.30, for a total transaction of $306,000.00. Following the completion of the sale, the director owned 17,474 shares of the company's stock, valued at approximately $267,352.20. The trade was a 53.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,154,649 shares of company stock valued at $16,805,481. 19.30% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the business. Rhumbline Advisers acquired a new position in shares of Quantum Computing during the first quarter worth $28,000. Nisa Investment Advisors LLC acquired a new position in Quantum Computing in the 2nd quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Quantum Computing in the 2nd quarter worth $29,000. Hollencrest Capital Management boosted its position in Quantum Computing by 60.0% in the 1st 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 acquired a new stake in shares of Quantum Computing during the second quarter valued at about $33,000. Hedge funds and other institutional investors own 4.26% of the company's stock.
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.
See Also
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