Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) traded down 2.6% during trading on Friday . The stock traded as low as $15.51 and last traded at $15.53. 37,330,200 shares were traded during trading, an increase of 36% from the average session volume of 27,446,705 shares. The stock had previously closed at $15.94.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. Wall Street Zen downgraded Quantum Computing from a "hold" rating to a "strong sell" rating in a report on Saturday, August 16th. Weiss Ratings restated a "sell (e+)" rating on shares of Quantum Computing in a report on Wednesday, October 8th. Lake Street Capital assumed coverage on Quantum Computing in a report on Thursday, September 18th. They set a "buy" rating and a $24.00 price objective for the company. Cantor Fitzgerald assumed coverage on Quantum Computing in a report on Wednesday, July 2nd. They set a "neutral" rating and a $15.00 price objective for the company. Finally, Ascendiant Capital Markets boosted their price objective on Quantum Computing from $22.00 to $40.00 and gave the company a "buy" rating in a report on Friday, October 3rd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $26.33.
View Our Latest Stock Report on Quantum Computing
Quantum Computing Price Performance
The company has a fifty day moving average of $17.84 and a 200-day moving average of $14.95. The firm has a market cap of $3.48 billion, a P/E ratio of -22.84 and a beta of 3.85.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.10 million.
Insider Buying and Selling
In related news, CEO Yuping Huang sold 1,000,000 shares of the company's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $14.41, for a total transaction of $14,410,000.00. Following the completion of the sale, the chief executive officer owned 21,287,718 shares in the company, valued at approximately $306,756,016.38. This represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert B. Fagenson sold 5,000 shares of the company's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $16.88, for a total value of $84,400.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,154,649 shares of company stock worth $16,805,481. 19.30% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of QUBT. Geode Capital Management LLC grew its stake in Quantum Computing by 116.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,630,525 shares of the company's stock valued at $50,433,000 after purchasing an additional 1,416,928 shares during the period. Penserra Capital Management LLC bought a new position in Quantum Computing in the 2nd quarter valued at $19,543,000. Vanguard Group Inc. grew its stake in Quantum Computing by 24.0% in the 1st 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Quantum Computing in the 1st quarter valued at $7,084,000. Finally, Focus Financial Network Inc. grew its stake in Quantum Computing by 339.9% in the 3rd quarter. Focus Financial Network Inc. now owns 1,117,431 shares of the company's stock valued at $20,572,000 after purchasing an additional 863,394 shares during the period. 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.
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