Robert Fagenson Sells 5,000 Shares of Quantum Computing (NASDAQ:QUBT) Stock

Key Points

• Robert Fagenson, a director at Quantum Computing Inc., sold 5,000 shares of the company's stock on September 15th for a total of $84,400.
• Quantum Computing's stock price rose 5.0%, reaching $17.71, with a significant trading volume of 35,019,408 shares exchanged compared to its average of around 23 million.
• Analysts have mixed views on the stock, with a consensus rating of "Moderate Buy" and a target price of $18.50, while one analyst recently downgraded it to a "strong sell."

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) Director Robert Fagenson sold 5,000 shares of the company's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $16.88, for a total transaction of $84,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Quantum Computing Trading Up 5.0%

NASDAQ:QUBT traded up $0.84 during trading hours on Wednesday, reaching $17.71. 35,019,408 shares of the company were exchanged, compared to its average volume of 23,460,342. The stock's 50-day moving average is $16.28 and its 200-day moving average is $12.58. The firm has a market cap of $2.83 billion, a PE ratio of -26.04 and a beta of 3.88. Quantum Computing Inc. has a twelve month low of $0.64 and a twelve month high of $27.15.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $0.10 million.

Institutional Trading of Quantum Computing

A number of institutional investors and hedge funds have recently bought and sold shares of QUBT. Rhumbline Advisers acquired a new stake in Quantum Computing during the 1st quarter worth approximately $28,000. Nisa Investment Advisors LLC purchased a new position in Quantum Computing in the 2nd quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Quantum Computing in the 2nd quarter worth approximately $29,000. Hollencrest Capital Management boosted its stake in shares of Quantum Computing by 60.0% during the 1st quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock valued at $32,000 after buying an additional 1,500 shares during the last quarter. Finally, FWL Investment Management LLC acquired a new stake in shares of Quantum Computing during the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 4.26% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on QUBT shares. 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. Wall Street Zen lowered shares of Quantum Computing from a "hold" rating to a "strong sell" rating in a research report on Saturday, August 16th. Finally, Cantor Fitzgerald initiated coverage on shares of Quantum Computing in a research report on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Quantum Computing has a consensus rating of "Moderate Buy" and a consensus target price of $18.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.