Quantum Computing (NASDAQ:QUBT) Shares Up 1.4% - Should You Buy?

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s share price was up 1.4% on Thursday . The stock traded as high as $17.48 and last traded at $16.98. Approximately 5,830,745 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 21,887,954 shares. The stock had previously closed at $16.74.

Analysts Set New Price Targets

Several analysts recently weighed in on QUBT shares. Wall Street Zen upgraded shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a report on Thursday, May 22nd. Ascendiant Capital Markets lifted their target price on shares of Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a report on Friday, June 6th.

Quantum Computing Price Performance

The company's fifty day moving average is $12.14 and its two-hundred day moving average is $10.53.

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

Insider Activity

In other Quantum Computing news, Director Javad Shabani sold 39,973 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $11.66, for a total transaction of $466,085.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yuping Huang sold 500,000 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $11.70, for a total transaction of $5,850,000.00. Following the transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 1,059,844 shares of company stock valued at $14,685,149. 19.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in Quantum Computing during the 4th quarter worth approximately $1,602,000. Raymond James Financial Inc. acquired a new position in Quantum Computing during the 4th quarter worth approximately $1,924,000. Farther Finance Advisors LLC acquired a new position in Quantum Computing during the 4th quarter worth approximately $33,000. Heck Capital Advisors LLC acquired a new position in Quantum Computing during the 4th quarter worth approximately $1,255,000. Finally, Stifel Financial Corp acquired a new position in Quantum Computing during the 4th quarter worth approximately $679,000. Institutional investors and hedge funds 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.