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

Quantum Computing Inc. (NASDAQ:QUBTGet Free Report) was the recipient of some unusual options trading activity on Friday. Traders acquired 69,109 call options on the company. This is an increase of 31% compared to the average daily volume of 52,594 call options.

Quantum Computing Trading Up 3.0%

Shares of QUBT opened at $17.29 on Friday. The firm has a market capitalization of $2.44 billion, a P/E ratio of -36.02 and a beta of 3.85. Quantum Computing has a 12-month low of $0.35 and a 12-month high of $27.15. The firm has a fifty day moving average price of $12.14 and a 200-day moving average price of $10.50.

Quantum Computing (NASDAQ:QUBTGet Free Report) last issued its earnings results on Thursday, May 15th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.18. The company had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.30 million.

Insider Activity at Quantum Computing

In other Quantum Computing news, insider Yuping Huang sold 500,000 shares of Quantum Computing stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.70, for a total transaction of $5,850,000.00. Following the completion of the transaction, the insider now directly owns 21,236,906 shares of the company’s stock, valued at $248,471,800.20. The trade was a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher Boehmler sold 46,440 shares of Quantum Computing stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $20.00, for a total transaction of $928,800.00. Following the transaction, the chief financial officer now directly owns 351,152 shares of the company’s stock, valued at $7,023,040. The trade was a 11.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,059,844 shares of company stock valued at $14,685,149. 19.30% of the stock is owned by corporate insiders.

Institutional Trading of Quantum Computing

A number of large investors have recently made changes to their positions in the stock. Rhumbline Advisers purchased a new stake in shares of Quantum Computing during the first quarter valued at $28,000. GK Wealth Management LLC purchased a new stake in shares of Quantum Computing during the first quarter valued at $88,000. Intrua Financial LLC purchased a new stake in shares of Quantum Computing during the first quarter valued at $385,000. Goldman Sachs Group Inc. boosted its stake in shares of Quantum Computing by 0.7% during the first quarter. Goldman Sachs Group Inc. now owns 326,278 shares of the company’s stock valued at $2,610,000 after purchasing an additional 2,280 shares during the period. Finally, PharVision Advisers LLC bought a new stake in shares of Quantum Computing in the first quarter valued at about $171,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wall Street Zen raised shares of Quantum Computing from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Ascendiant Capital Markets lifted their price objective on shares of Quantum Computing from $14.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, June 6th.

Read Our Latest Analysis on QUBT

Quantum Computing Company Profile

(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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