Quantum Computing (NASDAQ:QUBT) Trading Down 6.2% Following Insider Selling

Quantum Computing Inc. (NASDAQ:QUBT)’s share price fell 6.2% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $8.05 and last traded at $7.95. 7,766,404 shares were traded during mid-day trading, a decline of 51% from the average session volume of 15,820,001 shares. The stock had previously closed at $8.48.

Specifically, insider Yuping Huang sold 200,000 shares of Quantum Computing stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total value of $1,696,000.00. Following the completion of the transaction, the insider now owns 24,051,256 shares in the company, valued at approximately $203,954,650.88. This trade represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Quantum Computing Price Performance

The firm has a market capitalization of $1.09 billion, a PE ratio of -27.42 and a beta of 3.26. The business has a 50-day simple moving average of $8.17 and a 200-day simple moving average of $6.52.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Alyeska Investment Group L.P. purchased a new stake in Quantum Computing in the fourth quarter worth $69,613,000. Anson Funds Management LP bought a new stake in Quantum Computing during the 4th quarter valued at about $70,006,000. Vanguard Group Inc. raised its stake in shares of Quantum Computing by 83.6% during the fourth quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company’s stock valued at $69,290,000 after acquiring an additional 1,906,749 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $13,953,000. Finally, CIBC Private Wealth Group LLC bought a new position in Quantum Computing in the fourth quarter worth approximately $11,750,000. 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.