Quantum Computing (NASDAQ:QUBT) Stock Price Down 1.4% After Insider Selling

Quantum Computing Inc. (NASDAQ:QUBT) shares traded down 1.4% on Tuesday after an insider sold shares in the company. The company traded as low as $8.45 and last traded at $8.63. 7,619,553 shares were traded during trading, a decline of 71% from the average session volume of 26,607,623 shares. The stock had previously closed at $8.75.

Specifically, insider Yuping Huang sold 200,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $8.48, for a total transaction of $1,696,000.00. Following the transaction, the insider now owns 24,051,256 shares of the company’s stock, valued at approximately $203,954,650.88. The trade was a 0.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Quantum Computing Price Performance

The business’s 50 day simple moving average is $8.10 and its 200 day simple moving average is $6.53. The company has a market capitalization of $1.09 billion, a PE ratio of -27.38 and a beta of 3.26.

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

Institutional Investors Weigh In On Quantum Computing

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new position in shares of Quantum Computing in the fourth quarter valued at approximately $30,000. IFP Advisors Inc purchased a new position in 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 fourth quarter worth $33,000. Archer Investment Corp purchased a new stake in shares of Quantum Computing during the fourth quarter worth $33,000. Finally, Hollencrest Capital Management acquired a new stake in shares of Quantum Computing in the fourth quarter valued at $41,000. 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.