Insider Selling: Quantum Computing Inc. (NASDAQ:QUBT) Director Sells 39,973 Shares of Stock

Quantum Computing Inc. (NASDAQ:QUBT) Director Javad Shabani sold 39,973 shares of Quantum Computing stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.66, for a total value of $466,085.18. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Quantum Computing Stock Down 8.4%

Shares of NASDAQ QUBT opened at $10.54 on Thursday. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -36.34 and a beta of 3.74. The stock’s fifty day simple moving average is $7.76 and its 200 day simple moving average is $8.45. Quantum Computing Inc. has a 52-week low of $0.35 and a 52-week high of $27.15.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.42). The firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.20 million. During the same quarter last year, the company earned ($0.09) EPS.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets lifted their price target on Quantum Computing from $8.50 to $14.00 and gave the company a “buy” rating in a research report on Monday, April 28th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers acquired a new stake in Quantum Computing during the first quarter valued at $28,000. Tower Research Capital LLC TRC acquired a new stake in shares of Quantum Computing in the fourth quarter worth about $30,000. Hollencrest Capital Management lifted its position in shares of Quantum Computing by 60.0% in the first quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $32,000 after buying an additional 1,500 shares during the last quarter. Archer Investment Corp bought a new position in Quantum Computing in the 4th quarter worth approximately $33,000. Finally, IFP Advisors Inc acquired a new stake in shares of Quantum Computing in the fourth quarter worth $33,000. Hedge funds and other institutional investors 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.