Insider Selling: Quantum Computing (NASDAQ:QUBT) CFO Sells $540,880.70 in Stock

Quantum Computing Inc. (NASDAQ:QUBT) CFO Christopher Bruce Roberts sold 68,902 shares of Quantum Computing stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $7.85, for a total transaction of $540,880.70. Following the sale, the chief financial officer owned 1,132,398 shares of the company’s stock, valued at approximately $8,889,324.30. This represents a 5.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Christopher Bruce Roberts also recently made the following trade(s):

• On Wednesday, March 11th, Christopher Bruce Roberts sold 9,360 shares of Quantum Computing stock. The stock was sold at an average price of $7.85, for a total transaction of $73,476.00.

Quantum Computing Price Performance

Shares of NASDAQ QUBT opened at $7.30 on Friday. Quantum Computing Inc. has a fifty-two week low of $5.76 and a fifty-two week high of $25.84. The firm has a market capitalization of $1.64 billion, a P/E ratio of -48.67 and a beta of 3.51. The company’s 50 day simple moving average is $9.65 and its 200 day simple moving average is $13.11.

Quantum Computing (NASDAQ:QUBT) last released its earnings results on Monday, March 2nd. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The business had revenue of $0.20 million for the quarter, compared to analyst estimates of $0.39 million.

Hedge Funds Weigh In On Quantum Computing

Several institutional investors and hedge funds have recently made changes to their positions in the company. Aventura Private Wealth LLC bought a new stake in shares of Quantum Computing in the 4th quarter valued at $26,000. International Assets Investment Management LLC bought a new position in Quantum Computing during the fourth quarter worth about $26,000. Farther Finance Advisors LLC grew its stake in Quantum Computing by 724.7% in the third quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company’s stock valued at $28,000 after acquiring an additional 1,319 shares during the period. Rhumbline Advisers acquired a new position in Quantum Computing in the first quarter valued at about $28,000. Finally, Tucker Asset Management LLC bought a new stake in shares of Quantum Computing in the fourth quarter worth about $29,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on QUBT shares. Cantor Fitzgerald decreased their price objective on Quantum Computing from $15.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Ascendiant Capital Markets cut their target price on Quantum Computing from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, December 22nd. Wall Street Zen cut Quantum Computing from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a research report on Monday, December 29th. Finally, Wedbush assumed coverage on Quantum Computing in a research note on Wednesday, December 17th. They issued a “neutral” rating and a $12.00 price target for the company. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $17.00.

About Quantum Computing

Quantum Computing Inc (NASDAQ: QUBT) is a provider of quantum computing and quantum-inspired algorithm solutions, headquartered in the United States with research and development operations in Europe. Originally incorporated as Unigrid Software in 2019, the company rebranded in 2021 to reflect its strategic focus on commercializing emerging quantum technologies for enterprise and government customers.

The company’s flagship product, Qatalyst, is a quantum-inspired optimization platform that applies advanced heuristic solvers to address complex combinatorial problems in logistics, supply chain management, finance and other data-intensive fields.