Insider Selling: Quantum Computing Inc. (NASDAQ:QUBT) Insider Sells 500,000 Shares of Stock

Quantum Computing Inc. (NASDAQ:QUBT) insider Yuping Huang sold 500,000 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $11.70, for a total value of $5,850,000.00. Following the completion of the transaction, the insider now owns 21,236,906 shares in the company, valued at $248,471,800.20. This represents a 2.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Yuping Huang also recently made the following trade(s):

• On Tuesday, March 25th, Yuping Huang sold 200,000 shares of Quantum Computing stock. The stock was sold at an average price of $8.48, for a total value of $1,696,000.00.

Quantum Computing Stock Performance

Shares of QUBT stock opened at $11.51 on Wednesday. The stock has a fifty day simple moving average of $7.69 and a two-hundred day simple moving average of $8.43. Quantum Computing Inc. has a 52-week low of $0.35 and a 52-week high of $27.15. The firm has a market capitalization of $1.62 billion, a PE ratio of -39.69 and a beta of 3.74.

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

Institutional Investors Weigh In On Quantum Computing

Several institutional investors have recently modified their holdings of QUBT. Tower Research Capital LLC TRC purchased a new position in shares of Quantum Computing during the fourth quarter worth about $30,000. IFP Advisors Inc acquired a new position in shares of Quantum Computing in the 4th quarter valued at approximately $33,000. Farther Finance Advisors LLC acquired a new position in shares of Quantum Computing in the 4th quarter worth approximately $33,000. Archer Investment Corp bought a new position in shares of Quantum Computing during the fourth quarter valued at approximately $33,000. Finally, Hollencrest Capital Management bought a new position in Quantum Computing in the 4th quarter worth approximately $41,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.