Shares of Quantum Computing Inc. (NASDAQ:QUBT – Get Free Report) were down 3% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $19.18 and last traded at $20.58. Approximately 22,060,856 shares changed hands during trading, an increase of 4% from the average daily volume of 21,165,691 shares. The stock had previously closed at $21.22.
Specifically, 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 value of $928,800.00. Following the sale, the chief financial officer now directly owns 351,152 shares in the company, valued at $7,023,040. This trade represents a 11.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Christopher Boehmler sold 83,495 shares of Quantum Computing stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $19.92, for a total transaction of $1,663,220.40. Following the completion of the sale, the chief financial officer now owns 47,565 shares in the company, valued at approximately $947,494.80. This represents a 63.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CFO Christopher Boehmler sold 96,679 shares of Quantum Computing stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $15.96, for a total value of $1,542,996.84. Following the sale, the chief financial officer now directly owns 131,060 shares in the company, valued at $2,091,717.60. This trade represents a 42.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
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 research report on Thursday, May 22nd. Ascendiant Capital Markets raised their target price on shares of Quantum Computing from $14.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, June 6th.
Quantum Computing Stock Performance
The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -39.77 and a beta of 3.85. The company’s 50 day simple moving average is $10.59 and its 200 day simple moving average is $9.96.
Quantum Computing (NASDAQ:QUBT – Get Free Report) last released its 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 company had revenue of $0.04 million for the quarter, compared to analyst estimates of $0.30 million.
Hedge Funds Weigh In On Quantum Computing
Several hedge funds have recently made changes to their positions in the business. Rhumbline Advisers acquired a new position in shares of Quantum Computing in the 1st quarter worth approximately $28,000. GK Wealth Management LLC acquired a new position in shares of Quantum Computing in the 1st quarter worth approximately $88,000. Intrua Financial LLC acquired a new position in shares of Quantum Computing in the 1st quarter worth approximately $385,000. Goldman Sachs Group Inc. grew its stake in shares of Quantum Computing by 0.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 326,278 shares of the company’s stock worth $2,610,000 after purchasing an additional 2,280 shares during the last quarter. Finally, PharVision Advisers LLC acquired a new position in shares of Quantum Computing in the 1st quarter worth approximately $171,000. Institutional investors and hedge funds own 4.26% of the company’s stock.
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.
See Also
- Five stocks we like better than Quantum Computing
- How to Invest in Blue Chip Stocks
- Chime’s Smart IPO: Half the Valuation, Double the Strength
- How to Buy Cheap Stocks Step by Step
- Why Quantum Computing Inc. Is the Quiet Winner in Quantum Stocks
- What is a support level?
- 3 Catalysts in 7 Days: Archer’s Growth Story Just Accelerated
Receive News & Ratings for Quantum Computing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quantum Computing and related companies with MarketBeat.com's FREE daily email newsletter.