Insider Selling: Quantum Computing Inc. (NASDAQ:QUBT) Insider Sells $1,696,000.00 in Stock

Quantum Computing Inc. (NASDAQ:QUBT) insider Yuping Huang sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total value of $1,696,000.00. Following the completion of the transaction, the insider now directly owns 24,051,256 shares in the company, valued at approximately $203,954,650.88. This represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Quantum Computing Price Performance

Quantum Computing stock opened at $7.94 on Friday. Quantum Computing Inc. has a 1 year low of $0.35 and a 1 year high of $27.15. The firm’s 50 day moving average price is $8.04 and its 200-day moving average price is $6.54. The stock has a market cap of $1.09 billion, a P/E ratio of -27.38 and a beta of 3.26.

Quantum Computing (NASDAQ:QUBT) last announced 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 business had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.20 million. During the same quarter in the prior year, the firm posted ($0.09) EPS.

Hedge Funds Weigh In On Quantum Computing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. bought a new stake in Quantum Computing in the 4th quarter worth approximately $69,613,000. Anson Funds Management LP bought a new stake in Quantum Computing in the fourth quarter worth $70,006,000. Vanguard Group Inc. raised its stake in Quantum Computing by 83.6% during the fourth quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company’s stock valued at $69,290,000 after purchasing an additional 1,906,749 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in Quantum Computing during the fourth quarter valued at $13,953,000. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of Quantum Computing in the 4th quarter worth $11,750,000. 4.26% of the stock is owned by institutional investors.

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.