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

Quantum Computing Inc. (NASDAQ:QUBT) Director Javad Shabani sold 39,973 shares of the company’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $11.66, for a total transaction of $466,085.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Quantum Computing Stock Performance

NASDAQ QUBT opened at $11.51 on Wednesday. The stock’s fifty day moving average is $7.69 and its two-hundred day moving average is $8.43. The firm has a market capitalization of $1.62 billion, a P/E ratio of -39.69 and a beta of 3.74. Quantum Computing Inc. has a fifty-two week low of $0.35 and a fifty-two week high of $27.15.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings results on Thursday, March 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate 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 in the previous year, the company posted ($0.09) EPS.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Quantum Computing

Several hedge funds and other institutional investors have recently bought and sold shares of QUBT. Goldman Sachs Group Inc. boosted its holdings in Quantum Computing by 0.7% in the 1st 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 last quarter. PharVision Advisers LLC purchased a new stake in shares of Quantum Computing during the 1st quarter valued at approximately $171,000. Millennium Management LLC lifted its holdings in Quantum Computing by 288.9% in the first quarter. Millennium Management LLC now owns 651,455 shares of the company’s stock valued at $5,212,000 after acquiring an additional 483,940 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Quantum Computing in the first quarter valued at approximately $7,084,000. Finally, Royal Bank of Canada grew its position in Quantum Computing by 57.1% in the first quarter. Royal Bank of Canada now owns 53,752 shares of the company’s stock worth $430,000 after acquiring an additional 19,527 shares during the period. 4.26% of the stock is currently owned by institutional investors and hedge funds.

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.