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

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares fell 1.4% on Tuesday after an insider sold shares in the company. The stock traded as low as $8.45 and last traded at $8.63. Approximately 7,619,553 shares traded hands 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 value of $1,696,000.00. Following the transaction, the insider now directly owns 24,051,256 shares in the company, valued at $203,954,650.88. The trade was a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Quantum Computing Stock Up 6.4 %

The company's fifty day moving average price is $8.01 and its two-hundred day moving average price is $6.59. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -29.14 and a beta of 3.26.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $0.20 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share.

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Institutional Investors Weigh In On Quantum Computing

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

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.