Quantum Computing (NASDAQ:QUBT) Stock Price Down 3.5% on Insider Selling

Quantum Computing Inc. (NASDAQ:QUBTGet Free Report) shares were down 3.5% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $11.46 and last traded at $11.69. Approximately 14,715,672 shares changed hands during trading, a decline of 13% from the average daily volume of 16,962,057 shares. The stock had previously closed at $12.11.

Specifically, COO Milan Begliarbekov sold 2,860 shares of Quantum Computing stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $11.85, for a total transaction of $33,891.00. Following the completion of the sale, the chief operating officer owned 24,240 shares in the company, valued at approximately $287,244. This trade represents a 10.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on QUBT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum Computing in a research note on Monday, December 29th. Cantor Fitzgerald restated a “neutral” rating and set a $15.00 price objective on shares of Quantum Computing in a research report on Thursday, December 18th. Lake Street Capital cut their target price on shares of Quantum Computing from $24.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, November 17th. Wedbush began coverage on Quantum Computing in a research note on Wednesday, December 17th. They issued a “neutral” rating and a $12.00 target price on the stock. Finally, Ascendiant Capital Markets dropped their price target on Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, December 22nd. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Quantum Computing has a consensus rating of “Hold” and a consensus price target of $17.00.

Read Our Latest Stock Report on Quantum Computing

Key Headlines Impacting Quantum Computing

Here are the key news stories impacting Quantum Computing this week:

Quantum Computing Price Performance

The stock has a market capitalization of $2.62 billion, a P/E ratio of -19.16 and a beta of 3.49. The stock has a 50 day moving average price of $11.63 and a 200-day moving average price of $15.43.

Quantum Computing (NASDAQ:QUBTGet Free Report) last issued its earnings results on Friday, November 14th. The company reported ($0.05) earnings per share for the quarter, meeting 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 Inflows and Outflows

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

About Quantum Computing

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Quantum Computing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quantum Computing and related companies with MarketBeat.com's FREE daily email newsletter.