Insider Selling: Quantum Computing Inc. (NASDAQ:QUBT) Insider Sells 200,000 Shares of Stock

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) insider Yuping Huang sold 200,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were 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 owns 24,051,256 shares of the company's stock, valued at $203,954,650.88. This trade represents a 0.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Quantum Computing Trading Down 2.7 %

Shares of QUBT traded down $0.22 during midday trading on Friday, hitting $7.72. The stock had a trading volume of 6,256,339 shares, compared to its average volume of 15,911,955. Quantum Computing Inc. has a fifty-two week low of $0.35 and a fifty-two week high of $27.15. The business has a 50-day simple moving average of $8.04 and a two-hundred day simple moving average of $6.54. The firm has a market cap of $1.06 billion, a P/E ratio of -26.13 and a beta of 3.26.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $0.06 million during the quarter, compared to analysts' expectations of $0.20 million. During the same period in the prior year, the company posted ($0.09) earnings per share.

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Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new stake in shares of Quantum Computing during the 3rd quarter valued at $46,000. Geode Capital Management LLC boosted its position in Quantum Computing by 10.5% during the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company's stock valued at $449,000 after purchasing an additional 65,486 shares during the last quarter. Virtu Financial LLC grew its stake in Quantum Computing by 377.7% in the third quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock valued at $40,000 after purchasing an additional 47,880 shares in the last quarter. Sovereign Financial Group Inc. purchased a new position in Quantum Computing in the fourth quarter valued at about $209,000. Finally, Diversify Wealth Management LLC acquired a new position in Quantum Computing in the 4th quarter worth about $331,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

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.