Quantum Computing (NASDAQ:QUBT) Trading Down 3.5% on Insider Selling

Quantum Computing Inc. (NASDAQ:QUBT)’s share price traded down 3.5% on Tuesday following insider selling activity. The stock traded as low as $11.46 and last traded at $11.69. 14,715,672 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 16,962,057 shares. The stock had previously closed at $12.11.

Specifically, COO Milan Begliarbekov sold 2,860 shares of Quantum Computing stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $11.85, for a total value of $33,891.00. Following the sale, the chief operating officer directly owned 24,240 shares in the company, valued at approximately $287,244. The trade was a 10.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on QUBT shares. Wedbush began coverage on Quantum Computing in a research report on Wednesday, December 17th. They set a “neutral” rating and a $12.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a report on Monday, December 29th. Wall Street Zen raised Quantum Computing from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Lake Street Capital lowered their target price on Quantum Computing from $24.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, November 17th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $15.00 target price on shares of Quantum Computing in a report on Thursday, December 18th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $17.00.

Quantum Computing Trading Up 7.0%

The company has a 50-day moving average price of $11.59 and a two-hundred day moving average price of $15.41. The stock has a market cap of $2.80 billion, a P/E ratio of -20.51 and a beta of 3.49.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $0.38 million during the quarter, compared to the consensus estimate of $0.12 million.

Hedge Funds Weigh In On Quantum Computing

A number of large investors have recently made changes to their positions in QUBT. J.W. Cole Advisors Inc. raised its position in Quantum Computing by 3.8% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 21,070 shares of the company’s stock worth $404,000 after purchasing an additional 770 shares during the period. Compagnie Lombard Odier SCmA raised its holdings in shares of Quantum Computing by 53.5% in the second quarter. Compagnie Lombard Odier SCmA now owns 2,870 shares of the company’s stock worth $55,000 after buying an additional 1,000 shares during the period. Toth Financial Advisory Corp raised its holdings in shares of Quantum Computing by 100.0% in the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the company’s stock worth $37,000 after buying an additional 1,000 shares during the period. Two Sigma Investments LP lifted its stake in shares of Quantum Computing by 2.5% during the 3rd quarter. Two Sigma Investments LP now owns 40,705 shares of the company’s stock worth $749,000 after acquiring an additional 1,001 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC boosted its holdings in Quantum Computing by 9.3% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 12,975 shares of the company’s stock valued at $239,000 after acquiring an additional 1,100 shares during the period. 4.26% of the stock is owned by hedge funds and other institutional investors.

Quantum Computing Company Profile

Quantum Computing Inc (NASDAQ: QUBT) is a provider of quantum computing and quantum-inspired algorithm solutions, headquartered in the United States with research and development operations in Europe. Originally incorporated as Unigrid Software in 2019, the company rebranded in 2021 to reflect its strategic focus on commercializing emerging quantum technologies for enterprise and government customers.

The company’s flagship product, Qatalyst, is a quantum-inspired optimization platform that applies advanced heuristic solvers to address complex combinatorial problems in logistics, supply chain management, finance and other data-intensive fields.