Stock Traders Purchase Large Volume of Quantum Computing Call Options (NASDAQ:QUBT)

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) was the recipient of unusually large options trading on Friday. Traders acquired 69,109 call options on the company. This represents an increase of approximately 31% compared to the average volume of 52,594 call options.

Insiders Place Their Bets

In related news, CFO Christopher Boehmler sold 46,440 shares of Quantum Computing stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $20.00, for a total transaction of $928,800.00. Following the completion of the transaction, the chief financial officer now directly owns 351,152 shares of the company's stock, valued at $7,023,040. This trade represents a 11.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 value of $5,850,000.00. Following the completion of the sale, the insider now directly owns 21,236,906 shares in the company, valued at approximately $248,471,800.20. This represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,059,844 shares of company stock worth $14,685,149. Company insiders own 19.30% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of QUBT. IFP Advisors Inc purchased a new position in shares of Quantum Computing in the fourth quarter valued at about $33,000. Jacobi Capital Management LLC purchased a new position in Quantum Computing in the 4th quarter worth approximately $280,000. Modera Wealth Management LLC bought a new position in Quantum Computing in the 4th quarter worth approximately $662,000. SBI Securities Co. Ltd. purchased a new stake in Quantum Computing during the 4th quarter valued at approximately $1,602,000. Finally, Mission Wealth Management LP bought a new stake in shares of Quantum Computing during the fourth quarter valued at approximately $1,986,000. Hedge funds and other institutional investors own 4.26% of the company's stock.

Quantum Computing Price Performance

Quantum Computing stock traded up $0.50 during mid-day trading on Friday, reaching $17.29. 41,971,300 shares of the stock traded hands, compared to its average volume of 22,095,857. Quantum Computing has a 12-month low of $0.35 and a 12-month high of $27.15. The business's 50-day moving average is $11.92 and its 200-day moving average is $10.41. The stock has a market capitalization of $2.44 billion, a PE ratio of -36.02 and a beta of 3.85.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $0.30 million.

Wall Street Analyst Weigh In

QUBT has been the topic of several recent analyst reports. Ascendiant Capital Markets increased their target price on Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Wall Street Zen raised shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a report on Thursday, May 22nd.

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.

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