Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s stock price was up 2.7% during trading on Monday . The stock traded as high as $18.33 and last traded at $17.75. Approximately 8,927,816 shares changed hands during trading, a decline of 65% from the average daily volume of 25,805,932 shares. The stock had previously closed at $17.29.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Wall Street Zen raised Quantum Computing from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Cantor Fitzgerald began coverage on shares of Quantum Computing in a report on Wednesday. They issued a "neutral" rating and a $15.00 price objective on the stock. Finally, Ascendiant Capital Markets lifted their price objective on shares of Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, June 6th.
Check Out Our Latest Report on Quantum Computing
Quantum Computing Stock Performance
The firm has a market capitalization of $2.92 billion, a P/E ratio of -43.21 and a beta of 3.96. The business has a fifty day moving average of $13.22 and a 200-day moving average of $10.81.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last released its quarterly 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 business had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.30 million.
Insider Activity at Quantum Computing
In other news, CFO Christopher Boehmler sold 46,440 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $20.00, for a total value of $928,800.00. Following the completion of the transaction, the chief financial officer directly owned 351,152 shares in the company, valued at $7,023,040. This trade represents a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Javad Shabani sold 39,973 shares of the firm'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 disclosure for this sale can be found here. Over the last three months, insiders sold 1,059,844 shares of company stock worth $14,685,149. 19.30% of the stock is owned by company insiders.
Hedge Funds Weigh In On Quantum Computing
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers bought a new stake in shares of Quantum Computing in the 1st quarter worth $28,000. Tower Research Capital LLC TRC acquired a new position in Quantum Computing during the fourth quarter worth about $30,000. Hollencrest Capital Management raised its position in Quantum Computing by 60.0% in the first quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock worth $32,000 after acquiring an additional 1,500 shares in the last quarter. IFP Advisors Inc bought a new stake in Quantum Computing in the fourth quarter worth about $33,000. Finally, Farther Finance Advisors LLC acquired a new stake in Quantum Computing in the 4th quarter valued at about $33,000. 4.26% of the stock is owned by institutional investors.
About Quantum Computing
(
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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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