Quantum Computing (NASDAQ:QUBT) Stock Price Down 4.2% - What's Next?

Key Points

• Quantum Computing Inc. (NASDAQ:QUBT) experienced a 4.2% decline in stock price, trading at $16.13, with a significant decrease in trading volume compared to its average.
• Analysts have mixed opinions on the stock, with one firm upgrading the price target to $22.00 while another rated it as a "strong sell," leading to a consensus rating of "Moderate Buy" and an average price target of $18.50.
• Insider trading activity shows significant sell-offs, with CEO Yuping Huang selling 1 million shares, decreasing his position by 4.49%, while insiders sold a total of over 1 million shares in the last quarter.

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s share price dropped 4.2% on Tuesday . The company traded as low as $16.06 and last traded at $16.13. Approximately 6,455,203 shares traded hands during trading, a decline of 72% from the average daily volume of 23,258,717 shares. The stock had previously closed at $16.83.

Wall Street Analyst Weigh In

QUBT has been the topic of several research reports. Wall Street Zen cut Quantum Computing from a "hold" rating to a "strong sell" rating in a report on Saturday, August 16th. Ascendiant Capital Markets lifted their price objective on Quantum Computing from $14.00 to $22.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. Finally, Cantor Fitzgerald began coverage on Quantum Computing in a research report on Wednesday, July 2nd. They set a "neutral" rating and a $15.00 target price for the company. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Quantum Computing currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.50.

Quantum Computing Price Performance

The stock's 50-day moving average price is $16.28 and its 200 day moving average price is $12.58. The firm has a market capitalization of $2.76 billion, a PE ratio of -25.57 and a beta of 3.88.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The firm had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.10 million.

Insider Activity

In other Quantum Computing news, CEO Yuping Huang sold 1,000,000 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $14.41, for a total transaction of $14,410,000.00. Following the transaction, the chief executive officer 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Javad Shabani sold 20,000 shares of the business's stock in a transaction dated 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. This represents a 53.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,054,649 shares of company stock worth $15,249,381. Company insiders own 19.30% of the company's stock.

Hedge Funds Weigh In On Quantum Computing

Large investors have recently bought and sold shares of the business. Osaic Holdings Inc. lifted its holdings in Quantum Computing by 166.2% during the second quarter. Osaic Holdings Inc. now owns 125,607 shares of the company's stock worth $2,408,000 after buying an additional 78,424 shares during the period. Squarepoint Ops LLC raised its position in shares of Quantum Computing by 37.3% in the 2nd quarter. Squarepoint Ops LLC now owns 38,447 shares of the company's stock worth $737,000 after acquiring an additional 10,447 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its stake in shares of Quantum Computing by 142.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,959 shares of the company's stock worth $76,000 after purchasing an additional 2,329 shares during the last quarter. Marex Group plc bought a new stake in Quantum Computing during the second quarter valued at about $6,759,000. Finally, Hollencrest Capital Management grew its stake in Quantum Computing by 56.3% in the second quarter. Hollencrest Capital Management now owns 6,250 shares of the company's stock valued at $120,000 after purchasing an additional 2,250 shares during the last quarter. Institutional investors own 4.26% of the company's stock.

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.