Quantum Computing Inc. (NASDAQ:QUBT) CFO Christopher Boehmler Sells 83,495 Shares

Quantum Computing Inc. (NASDAQ:QUBT) CFO Christopher Boehmler sold 83,495 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $19.92, for a total transaction of $1,663,220.40. Following the sale, the chief financial officer now owns 47,565 shares of the company’s stock, valued at $947,494.80. This trade represents a 63.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Christopher Boehmler also recently made the following trade(s):

• On Tuesday, June 10th, Christopher Boehmler sold 96,679 shares of Quantum Computing stock. The stock was sold at an average price of $15.96, for a total transaction of $1,542,996.84.
• On Monday, June 9th, Christopher Boehmler sold 92,271 shares of Quantum Computing stock. The shares were sold at an average price of $15.00, for a total transaction of $1,384,065.00.

Quantum Computing Stock Up 25.4%

Shares of NASDAQ:QUBT opened at $18.97 on Thursday. The firm has a market cap of $2.67 billion, a P/E ratio of -65.41 and a beta of 3.85. Quantum Computing Inc. has a 12 month low of $0.35 and a 12 month high of $27.15. The company’s 50-day moving average price is $9.37 and its two-hundred day moving average price is $9.55.

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 company had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.20 million. During the same period in the prior year, the company posted ($0.09) earnings per share.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Quantum Computing from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Ascendiant Capital Markets increased their target price on Quantum Computing from $14.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, June 6th.

Institutional Investors Weigh In On Quantum Computing

Several hedge funds and other institutional investors have recently made changes to their positions in QUBT. Rhumbline Advisers acquired a new position in shares of Quantum Computing during the first quarter valued at $28,000. Tower Research Capital LLC TRC bought a new stake in Quantum Computing during the 4th quarter worth about $30,000. Hollencrest Capital Management raised its holdings in Quantum Computing by 60.0% during the 1st quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $32,000 after purchasing an additional 1,500 shares during the last quarter. IFP Advisors Inc acquired a new position in Quantum Computing during the 4th quarter valued at about $33,000. Finally, Farther Finance Advisors LLC bought a new position in shares of Quantum Computing in the 4th quarter valued at about $33,000. 4.26% of the stock is owned by institutional investors and hedge funds.

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.