Quantum Computing Inc. (NASDAQ:QUBT – Get Free Report) saw unusually-high trading volume on Friday . Approximately 34,829,456 shares traded hands during mid-day trading, an increase of 88% from the previous session’s volume of 18,534,222 shares.The stock last traded at $13.90 and had previously closed at $12.07.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on QUBT shares. Wall Street Zen upgraded shares of Quantum Computing from a “strong sell” rating to a “hold” rating in a research note on Thursday. Ascendiant Capital Markets raised their price objective on shares of Quantum Computing from $8.50 to $14.00 and gave the stock a “buy” rating in a report on Monday, April 28th.

Check Out Our Latest Report on Quantum Computing

Quantum Computing Price Performance

The company has a 50-day moving average of $7.94 and a two-hundred day moving average of $8.66. The company has a market capitalization of $1.88 billion, a PE ratio of -45.90 and a beta of 3.74.

Quantum Computing (NASDAQ:QUBT – Get Free Report) last posted its quarterly 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 analyst estimates of $0.20 million. During the same period in the prior year, the firm posted ($0.09) EPS.

Insider Buying and Selling at Quantum Computing

In related news, insider Yuping Huang sold 500,000 shares of the company’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.70, for a total transaction of $5,850,000.00. Following the completion of the transaction, the insider now owns 21,236,906 shares in the company, valued at approximately $248,471,800.20. This represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Javad Shabani sold 39,973 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $11.66, for a total transaction of $466,085.18. The disclosure for this sale can be found here. Insiders have sold a total of 739,973 shares of company stock valued at $8,012,085 over the last ninety days. 19.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Hollencrest Capital Management lifted its position in Quantum Computing by 60.0% during the first quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $32,000 after purchasing an additional 1,500 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in Quantum Computing in the fourth quarter worth about $30,000. IFP Advisors Inc bought a new stake in Quantum Computing during the fourth quarter worth approximately $33,000. Farther Finance Advisors LLC purchased a new stake in Quantum Computing during the fourth quarter valued at approximately $33,000. Finally, Archer Investment Corp bought a new stake in shares of Quantum Computing in the 4th quarter valued at approximately $33,000. 4.26% of the stock is currently owned by institutional investors.

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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