Quantum Computing Inc. (NASDAQ:QUBT) Insider Yuping Huang Sells 500,000 Shares of Stock

Quantum Computing Inc. (NASDAQ:QUBT) insider Yuping Huang sold 500,000 shares of the company’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $11.70, for a total value of $5,850,000.00. Following the transaction, the insider now directly owns 21,236,906 shares of the company’s stock, valued at approximately $248,471,800.20. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Yuping Huang also recently made the following trade(s):

• On Tuesday, March 25th, Yuping Huang sold 200,000 shares of Quantum Computing stock. The shares were sold at an average price of $8.48, for a total value of $1,696,000.00.

Quantum Computing Stock Performance

Quantum Computing stock opened at $11.51 on Wednesday. Quantum Computing Inc. has a fifty-two week low of $0.35 and a fifty-two week high of $27.15. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -39.69 and a beta of 3.74. The stock has a fifty day moving average of $7.69 and a two-hundred day moving average of $8.43.

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

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets increased their price target on shares of Quantum Computing from $8.50 to $14.00 and gave the stock a “buy” rating in a research report on Monday, April 28th.

Institutional Investors Weigh In On Quantum Computing

Hedge funds have recently made changes to their positions in the company. Rhumbline Advisers bought a new stake in Quantum Computing during the first quarter worth approximately $28,000. Tower Research Capital LLC TRC bought a new position in shares of Quantum Computing in the 4th quarter valued at about $30,000. Hollencrest Capital Management raised its position in shares of Quantum Computing by 60.0% during the 1st quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $32,000 after acquiring an additional 1,500 shares during the last quarter. Archer Investment Corp acquired a new position in Quantum Computing during the fourth quarter valued at approximately $33,000. Finally, IFP Advisors Inc bought a new position in Quantum Computing in the fourth quarter valued at approximately $33,000. 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.