Insider Selling: Quantum Computing (NASDAQ:QUBT) Director Sells 20,000 Shares of Stock

by · The Cerbat Gem

Quantum Computing Inc. (NASDAQ:QUBT – Get Free Report) Director Javad Shabani sold 20,000 shares of Quantum Computing stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $15.30, for a total transaction of $306,000.00. Following the sale, the director owned 17,474 shares in the company, valued at approximately $267,352.20. This trade represents a 53.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Javad Shabani also recently made the following trade(s):

  • On Monday, September 8th, Javad Shabani sold 17,474 shares of Quantum Computing stock. The shares were sold at an average price of $15.26, for a total transaction of $266,653.24.

Quantum Computing Stock Performance

Shares of Quantum Computing stock opened at $15.24 on Tuesday. The firm’s 50-day simple moving average is $16.71 and its 200-day simple moving average is $12.21. Quantum Computing Inc. has a twelve month low of $0.58 and a twelve month high of $27.15. The firm has a market cap of $2.44 billion, a P/E ratio of -22.41 and a beta of 3.88.

Quantum Computing (NASDAQ:QUBT – Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). The business had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.10 million.

Hedge Funds Weigh In On Quantum Computing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position 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 buying an additional 1,004,675 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Quantum Computing by 116.8% during the second quarter. Geode Capital Management LLC now owns 2,630,525 shares of the company’s stock worth $50,433,000 after purchasing an additional 1,416,928 shares in the last quarter. Penserra Capital Management LLC acquired a new position in shares of Quantum Computing during the second quarter worth approximately $19,543,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Quantum Computing by 13.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,000,144 shares of the company’s stock worth $19,146,000 after purchasing an additional 115,284 shares in the last quarter. Finally, Invesco Ltd. acquired a new position in shares of Quantum Computing during the second quarter worth approximately $16,035,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on QUBT shares. Cantor Fitzgerald started coverage on shares of Quantum Computing in a research report on Wednesday, July 2nd. They set a “neutral” rating and a $15.00 target price on the stock. Ascendiant Capital Markets lifted their target price 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. Finally, Wall Street Zen lowered shares of Quantum Computing from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 16th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Quantum Computing presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.50.

Check Out Our Latest Report on Quantum Computing

Quantum Computing Company Profile

(Get Free Report)

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.

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