Quantum Computing Inc. (NASDAQ:QUBT) CFO Christopher Boehmler Sells 46,440 Shares

Quantum Computing Inc. (NASDAQ:QUBT) CFO Christopher Boehmler sold 46,440 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $20.00, for a total transaction of $928,800.00. Following the transaction, the chief financial officer now directly owns 351,152 shares in the company, valued at approximately $7,023,040. This represents a 11.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Christopher Boehmler also recently made the following trade(s):

• On Wednesday, June 11th, Christopher Boehmler sold 83,495 shares of Quantum Computing stock. The shares were sold at an average price of $19.92, for a total transaction of $1,663,220.40.
• On Tuesday, June 10th, Christopher Boehmler sold 96,679 shares of Quantum Computing stock. The stock was sold at an average price of $15.96, for a total value of $1,542,996.84.
• On Monday, June 9th, Christopher Boehmler sold 92,271 shares of Quantum Computing stock. The shares were sold at an average price of $15.00, for a total value of $1,384,065.00.

Quantum Computing Stock Down 6.7%

QUBT opened at $19.79 on Wednesday. Quantum Computing Inc. has a 52-week low of $0.35 and a 52-week high of $27.15. The company has a 50 day moving average of $10.35 and a two-hundred day moving average of $9.90. The company has a market cap of $2.79 billion, a P/E ratio of -41.23 and a beta of 3.85.

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

Analyst Ratings Changes

Several brokerages have commented on QUBT. Ascendiant Capital Markets upped their price target on Quantum Computing from $14.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, June 6th. Wall Street Zen upgraded Quantum Computing from a “strong sell” rating to a “hold” rating in a report on Thursday, May 22nd.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in QUBT. Vanguard Group Inc. grew its stake in shares of Quantum Computing by 24.0% in the first quarter. Vanguard Group Inc. now owns 5,191,404 shares of the company’s stock valued at $41,531,000 after buying an additional 1,004,675 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in Quantum Computing during the 4th quarter worth approximately $69,613,000. Anson Funds Management LP purchased a new position in Quantum Computing in the 4th quarter worth approximately $70,006,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Quantum Computing in the first quarter valued at approximately $7,084,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in Quantum Computing in the fourth quarter valued at approximately $13,953,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

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.