Quantum Computing (NASDAQ:QUBT) Trading Down 1.2% – Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT) dropped 1.2% on Wednesday . The company traded as low as $11.17 and last traded at $11.46. Approximately 14,991,131 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 27,957,348 shares. The stock had previously closed at $11.60.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on QUBT shares. Wall Street Zen upgraded Quantum Computing from a “strong sell” rating to a “hold” rating in a report on Saturday. Ascendiant Capital Markets increased their price objective on Quantum Computing from $22.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Lake Street Capital decreased their target price on shares of Quantum Computing from $24.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, November 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.67.

Quantum Computing Stock Down 1.2%

The company has a market cap of $2.57 billion, a PE ratio of -16.85 and a beta of 3.82. The firm’s 50-day moving average is $16.66 and its 200-day moving average is $16.10.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $0.38 million for the quarter, compared to the consensus estimate of $0.12 million.

Insider Transactions at Quantum Computing

In related news, CEO Yuping Huang sold 1,000,000 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $14.41, for a total transaction of $14,410,000.00. Following the sale, the chief executive officer directly owned 21,287,718 shares of the company’s stock, valued at $306,756,016.38. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Javad Shabani sold 20,000 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $15.30, for a total value of $306,000.00. Following the completion of the transaction, the director directly owned 17,474 shares of the company’s stock, valued at approximately $267,352.20. This trade represents a 53.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,137,474 shares of company stock worth $16,538,753. Corporate insiders own 19.30% of the company’s stock.

Institutional Trading of Quantum Computing

Institutional investors have recently made changes to their positions in the stock. J.W. Cole Advisors Inc. lifted its stake in Quantum Computing by 3.8% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 21,070 shares of the company’s stock worth $404,000 after purchasing an additional 770 shares in the last quarter. Compagnie Lombard Odier SCmA lifted its position in shares of Quantum Computing by 53.5% in the second quarter. Compagnie Lombard Odier SCmA now owns 2,870 shares of the company’s stock worth $55,000 after buying an additional 1,000 shares in the last quarter. Toth Financial Advisory Corp lifted its position in shares of Quantum Computing by 100.0% in the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the company’s stock worth $37,000 after buying an additional 1,000 shares in the last quarter. Two Sigma Investments LP boosted its stake in Quantum Computing by 2.5% during the third quarter. Two Sigma Investments LP now owns 40,705 shares of the company’s stock valued at $749,000 after buying an additional 1,001 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC grew its holdings in Quantum Computing by 9.3% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 12,975 shares of the company’s stock valued at $239,000 after buying an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors 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.