Javad Shabani Sells 17,474 Shares of Quantum Computing (NASDAQ:QUBT) Stock

Quantum Computing Inc. (NASDAQ:QUBT) Director Javad Shabani sold 17,474 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $15.26, for a total value of $266,653.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Javad Shabani also recently made the following trade(s):

• On Friday, September 5th, Javad Shabani sold 20,000 shares of Quantum Computing stock. The stock was sold at an average price of $15.30, for a total value of $306,000.00.

Quantum Computing Trading Down 4.8%

Shares of Quantum Computing stock opened at $15.41 on Thursday. The company has a market capitalization of $2.46 billion, a P/E ratio of -22.66 and a beta of 3.88. The stock has a fifty day simple moving average of $16.56 and a 200 day simple moving average of $12.26. Quantum Computing Inc. has a 12-month low of $0.60 and a 12-month high of $27.15.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, meeting analysts’ consensus estimates of ($0.06). The company had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $0.10 million.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on QUBT shares. Wall Street Zen lowered Quantum Computing from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 16th. Ascendiant Capital Markets increased their price target on Quantum Computing from $14.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, June 6th. Finally, 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 target for the company. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Institutional Investors Weigh In On Quantum Computing

Several large investors have recently added to or reduced their stakes in QUBT. Osaic Holdings Inc. boosted its stake in Quantum Computing by 166.2% in the 2nd quarter. Osaic Holdings Inc. now owns 125,607 shares of the company’s stock worth $2,408,000 after purchasing an additional 78,424 shares during the period. Squarepoint Ops LLC raised its holdings in shares of Quantum Computing by 37.3% during the 2nd quarter. Squarepoint Ops LLC now owns 38,447 shares of the company’s stock valued at $737,000 after buying an additional 10,447 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in shares of Quantum Computing by 142.9% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,959 shares of the company’s stock valued at $76,000 after buying an additional 2,329 shares in the last quarter. Marex Group plc purchased a new position in Quantum Computing in the 2nd quarter worth approximately $6,759,000. Finally, Hollencrest Capital Management increased its stake in Quantum Computing by 56.3% in the 2nd quarter. Hollencrest Capital Management now owns 6,250 shares of the company’s stock worth $120,000 after purchasing an additional 2,250 shares during the period. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Quantum Computing Company Profile

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.