Quantum Computing (NASDAQ:QUBT) Stock Price Down 3.5% - Should You Sell?

Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) were down 3.5% during mid-day trading on Thursday . The company traded as low as $18.71 and last traded at $19.09. Approximately 44,047,924 shares were traded during mid-day trading, an increase of 105% from the average daily volume of 21,513,010 shares. The stock had previously closed at $19.79.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on QUBT shares. Wall Street Zen raised shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Ascendiant Capital Markets upped their price objective 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.

Quantum Computing Trading Down 3.5%

The company's fifty day moving average is $10.84 and its 200 day moving average is $10.05. The company has a market capitalization of $2.69 billion, a P/E ratio of -39.77 and a beta of 3.85.

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

Insider Activity

In other Quantum Computing news, insider Yuping Huang sold 500,000 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.70, for a total value of $5,850,000.00. Following the sale, the insider now owns 21,236,906 shares of the company's stock, valued at $248,471,800.20. This trade represents a 2.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Javad Shabani sold 39,973 shares of Quantum Computing stock in a transaction dated Monday, May 19th. The shares were 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. In the last quarter, insiders have sold 1,259,844 shares of company stock worth $16,381,149. 19.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of QUBT. IFP Advisors Inc purchased a new position in Quantum Computing during the 4th quarter valued at about $33,000. Cutter & CO Brokerage Inc. purchased a new position in Quantum Computing in the fourth quarter worth about $535,000. Jacobi Capital Management LLC purchased a new position in Quantum Computing in the fourth quarter worth about $280,000. Modera Wealth Management LLC purchased a new position in Quantum Computing in the fourth quarter worth about $662,000. Finally, SBI Securities Co. Ltd. purchased a new position in Quantum Computing in the fourth quarter worth about $1,602,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

Quantum Computing Company Profile

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.