Quantum Computing Inc. (NASDAQ:QUBT) Director Michael C. Turmelle Sells 200,986 Shares of Stock

Quantum Computing Inc. (NASDAQ:QUBT) Director Michael C. Turmelle sold 200,986 shares of Quantum Computing stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $14.18, for a total value of $2,849,981.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Quantum Computing Trading Up 25.4%

Shares of QUBT stock opened at $18.97 on Thursday. The firm’s 50 day moving average is $9.37 and its 200 day moving average is $9.55. The stock has a market capitalization 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.

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 business had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.20 million. During the same period in the previous year, the firm posted ($0.09) EPS.

Hedge Funds Weigh In On Quantum Computing

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Quantum Computing by 24.0% in the first quarter. Vanguard Group Inc. now owns 5,191,404 shares of the company’s stock valued at $41,531,000 after acquiring an additional 1,004,675 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Quantum Computing during the 4th quarter valued at about $69,613,000. Anson Funds Management LP bought a new stake in shares of Quantum Computing during the 4th quarter valued at about $70,006,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Quantum Computing during the first quarter valued at about $7,084,000. Finally, Rockefeller Capital Management L.P. bought a new position in Quantum Computing in the fourth quarter worth about $13,953,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on QUBT shares. Wall Street Zen raised shares of Quantum Computing from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Ascendiant Capital Markets raised their price target on shares of Quantum Computing from $14.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, June 6th.

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.