Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) saw unusually large options trading activity on Friday. Stock traders acquired 137,034 call options on the stock. This represents an increase of 132% compared to the average volume of 59,084 call options.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on QUBT shares. Cantor Fitzgerald started coverage on Quantum Computing in a research report on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 price objective for the company. Wall Street Zen downgraded shares of Quantum Computing from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 16th. Lake Street Capital began coverage on Quantum Computing in a research report on Thursday. They issued a "buy" rating and a $24.00 target price for the company. Finally, Ascendiant Capital Markets upped their price objective on Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Quantum Computing has an average rating of "Moderate Buy" and a consensus price target of $20.33.
Check Out Our Latest Stock Report on Quantum Computing
Quantum Computing Price Performance
QUBT traded up $4.92 during trading on Friday, reaching $23.27. 98,377,668 shares of the company's stock were exchanged, compared to its average volume of 18,804,306. Quantum Computing has a 1 year low of $0.64 and a 1 year high of $27.15. The company's fifty day simple moving average is $16.35 and its 200-day simple moving average is $12.88. The stock has a market capitalization of $3.72 billion, a P/E ratio of -34.22 and a beta of 3.88.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.10 million.
Insider Buying and Selling at Quantum Computing
In other Quantum Computing news, Director Javad Shabani sold 17,474 shares of the company's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $15.26, for a total value of $266,653.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Pouya Dianat sold 17,175 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $15.53, for a total transaction of $266,727.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,154,649 shares of company stock worth $16,805,481. 19.30% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. grew its stake in shares of Quantum Computing by 159.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 33,724 shares of the company's stock worth $270,000 after purchasing an additional 20,731 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Quantum Computing during the 1st quarter valued at $798,000. Heck Capital Advisors LLC purchased a new stake in Quantum Computing during the fourth quarter valued at about $1,255,000. Teacher Retirement System of Texas bought a new position in shares of Quantum Computing during the first quarter valued at approximately $136,000. Finally, Vanguard Group Inc. boosted its stake in shares of Quantum Computing by 24.0% during the 1st quarter. Vanguard Group Inc. now owns 5,191,404 shares of the company's stock worth $41,531,000 after acquiring an additional 1,004,675 shares during the last quarter. 4.26% of the stock is owned by institutional investors.
About Quantum Computing
(
Get Free Report)
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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