Quantum Computing (NASDAQ:QUBT) Stock Price Down 3.3% - Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares were down 3.3% on Monday . The stock traded as low as $10.85 and last traded at $10.96. Approximately 5,456,629 shares changed hands during trading, a decline of 72% from the average daily volume of 19,318,751 shares. The stock had previously closed at $11.33.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on QUBT. Ascendiant Capital Markets raised their price target on Quantum Computing from $8.50 to $14.00 and gave the stock a "buy" rating in a report on Monday, April 28th. 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 Trading Up 5.1%

The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -42.76 and a beta of 3.74. The firm's 50 day simple moving average is $8.55 and its 200-day simple moving average is $9.15.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its earnings results on Thursday, March 20th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The firm had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.20 million. During the same quarter last year, the firm posted ($0.09) earnings per share.

Insider Activity at Quantum Computing

In other Quantum Computing news, insider Yuping Huang sold 500,000 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.70, for a total transaction of $5,850,000.00. Following the sale, the insider now directly owns 21,236,906 shares in the company, valued at approximately $248,471,800.20. The trade was a 2.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Javad Shabani sold 39,973 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $11.66, for a total transaction of $466,085.18. The disclosure for this sale can be found here. Insiders sold a total of 739,973 shares of company stock worth $8,012,085 over the last 90 days. Company insiders own 19.30% of the company's stock.

Institutional Trading of Quantum Computing

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC acquired a new stake in shares of Quantum Computing in the 4th quarter worth approximately $786,000. Archer Investment Corp purchased a new stake in Quantum Computing during the fourth quarter worth $33,000. Focus Financial Network Inc. acquired a new stake in Quantum Computing in the fourth quarter valued at $1,536,000. Essex Financial Services Inc. acquired a new stake in Quantum Computing in the fourth quarter valued at $174,000. Finally, UNICOM Systems Inc. acquired a new position in shares of Quantum Computing during the 4th quarter worth $5,707,000. 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.