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

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price dropped 6.2% on Wednesday after an insider sold shares in the company. The company traded as low as $8.05 and last traded at $7.95. Approximately 7,766,404 shares were traded during mid-day trading, a decline of 51% from the average daily 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 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 owns 24,051,256 shares of the company’s stock, valued at approximately $203,954,650.88. This trade represents a 0.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Quantum Computing Trading Down 0.9 %

The stock has a market capitalization of $1.09 billion, a PE ratio of -27.38 and a beta of 3.26. The business’s 50-day moving average is $8.04 and its two-hundred day moving average is $6.54.

Quantum Computing (NASDAQ:QUBT) last announced its earnings results on Thursday, March 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The company had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.20 million. During the same quarter in the prior year, the firm posted ($0.09) EPS.

Institutional Trading of Quantum Computing

A number of hedge funds have recently made changes to their positions in the company. UNICOM Systems Inc. acquired a new stake in Quantum Computing during the 4th quarter valued at $5,707,000. SBI Securities Co. Ltd. acquired a new stake in shares of Quantum Computing during the fourth quarter valued at about $1,602,000. Farther Finance Advisors LLC purchased a new stake in shares of Quantum Computing during the fourth quarter worth about $33,000. SG Americas Securities LLC purchased a new position in Quantum Computing in the fourth quarter valued at about $626,000. Finally, Virtu Financial LLC grew its stake in Quantum Computing by 377.7% during the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after purchasing an additional 47,880 shares in the last quarter. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Quantum Computing Company Profile

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.