Quantum Computing (NASDAQ:QUBT) Shares Down 6.2% on Insider Selling

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) fell 6.2% on Wednesday following insider selling activity. The company traded as low as $8.05 and last traded at $7.95. 7,766,404 shares changed hands during trading, a decline of 51% from the average session volume of 15,820,001 shares. The stock had previously closed at $8.48.

Specifically, insider Yuping Huang sold 200,000 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total transaction of $1,696,000.00. Following the completion of the sale, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Quantum Computing Trading Up 6.4 %

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

Quantum Computing (NASDAQ:QUBT - Get Free Report) last released its earnings results on Thursday, March 20th. The company reported ($0.47) earnings per share 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 analysts' expectations of $0.20 million. During the same quarter last year, the firm posted ($0.09) EPS.

Remove Ads

Hedge Funds Weigh In On Quantum Computing

Institutional investors and hedge funds have recently bought and sold shares of the company. Alyeska Investment Group L.P. purchased a new stake in Quantum Computing during the fourth quarter valued at about $69,613,000. Anson Funds Management LP purchased a new stake in shares of Quantum Computing during the 4th quarter valued at approximately $70,006,000. Vanguard Group Inc. boosted its holdings in Quantum Computing by 83.6% in the 4th quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company's stock worth $69,290,000 after buying an additional 1,906,749 shares during the period. Rockefeller Capital Management L.P. purchased a new position in Quantum Computing in the 4th quarter valued at approximately $13,953,000. Finally, Geode Capital Management LLC grew its stake in Quantum Computing by 11.0% in the 4th quarter. Geode Capital Management LLC now owns 762,588 shares of the company's stock valued at $12,627,000 after buying an additional 75,380 shares in the last quarter. 4.26% of the stock is owned by 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.