Quantum Computing (NASDAQ:QUBT) COO Milan Begliarbekov Sells 2,860 Shares

Quantum Computing Inc. (NASDAQ:QUBT) COO Milan Begliarbekov sold 2,860 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $11.85, for a total value of $33,891.00. Following the sale, the chief operating officer directly owned 24,240 shares of the company’s stock, valued at approximately $287,244. This represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Quantum Computing Trading Up 3.3%

Shares of QUBT stock opened at $12.11 on Tuesday. The company has a market capitalization of $2.71 billion, a P/E ratio of -19.85 and a beta of 3.49. The business’s 50 day moving average is $11.67 and its two-hundred day moving average is $15.47. Quantum Computing Inc. has a twelve month low of $4.37 and a twelve month high of $25.84.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.05) EPS for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $0.38 million for the quarter, compared to analysts’ expectations of $0.12 million.

Institutional Investors Weigh In On Quantum Computing

Institutional investors have recently modified their holdings of the company. Concurrent Investment Advisors LLC acquired a new position in shares of Quantum Computing in the second quarter worth $1,003,000. PFG Investments LLC purchased a new stake in Quantum Computing during the 2nd quarter worth about $1,128,000. Rollins Financial Advisors LLC purchased a new stake in Quantum Computing during the 2nd quarter worth about $504,000. SLT Holdings LLC raised its stake in Quantum Computing by 111.5% in the 2nd quarter. SLT Holdings LLC now owns 69,250 shares of the company’s stock valued at $1,328,000 after purchasing an additional 36,500 shares during the last quarter. Finally, Pacific Heights Asset Management LLC purchased a new position in Quantum Computing in the 2nd quarter valued at about $7,668,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Analyst Ratings Changes

QUBT has been the topic of several analyst reports. Ascendiant Capital Markets lowered their target price on shares of Quantum Computing from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, December 22nd. Wedbush began coverage on Quantum Computing in a report on Wednesday, December 17th. They issued a “neutral” rating and a $12.00 price objective on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $15.00 target price on shares of Quantum Computing in a research report on Thursday, December 18th. Wall Street Zen raised Quantum Computing from a “strong sell” rating to a “hold” rating in a report on Saturday, November 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum Computing in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.00.

Quantum Computing Company Profile

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.