Quantum Computing Inc. (NASDAQ:QUBT) Insider Yuping Huang Sells 200,000 Shares of Stock

Quantum Computing Inc. (NASDAQ:QUBT) insider Yuping Huang sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total transaction of $1,696,000.00. Following the completion of the transaction, the insider now directly owns 24,051,256 shares of the company’s stock, valued at $203,954,650.88. This trade represents a 0.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Quantum Computing Trading Down 3.1 %

Shares of NASDAQ:QUBT opened at $8.48 on Wednesday. The company has a market capitalization of $1.16 billion, a PE ratio of -29.24 and a beta of 3.26. Quantum Computing Inc. has a 12-month low of $0.35 and a 12-month high of $27.15. The business’s fifty day simple moving average is $8.17 and its 200-day simple moving average is $6.52.

Quantum Computing (NASDAQ:QUBT) last announced 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 for the quarter, compared to analyst estimates of $0.20 million. During the same period in the previous year, the company earned ($0.09) EPS.

Institutional Investors Weigh In On Quantum Computing

Hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd acquired a new position in shares of Quantum Computing during the third quarter worth $46,000. Geode Capital Management LLC increased its position in Quantum Computing by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after buying an additional 65,486 shares in the last quarter. Virtu Financial LLC raised its stake in Quantum Computing by 377.7% in the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after buying an additional 47,880 shares during the last quarter. Sovereign Financial Group Inc. acquired a new stake in Quantum Computing in the fourth quarter worth about $209,000. Finally, Diversify Wealth Management LLC purchased a new stake in shares of Quantum Computing during the fourth quarter worth about $331,000. 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.