Quantum Computing (NASDAQ:QUBT) Stock Price Down 1.4% After Insider Selling

Quantum Computing Inc. (NASDAQ:QUBT) shares were down 1.4% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $8.45 and last traded at $8.63. Approximately 7,619,553 shares changed hands during trading, a decline of 71% from the average daily volume of 26,607,623 shares. The stock had previously closed at $8.75.

Specifically, 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 value of $1,696,000.00. Following the completion of the sale, the insider now owns 24,051,256 shares in the company, valued at approximately $203,954,650.88. The trade was a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Quantum Computing Stock Down 0.9 %

The stock has a market cap of $1.09 billion, a PE ratio of -27.38 and a beta of 3.26. The business’s 50-day simple moving average is $8.10 and its 200-day simple moving average is $6.53.

Quantum Computing (NASDAQ:QUBT) last released its quarterly 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 during the quarter, compared to analyst estimates of $0.20 million. During the same period last year, the firm earned ($0.09) earnings per share.

Institutional Trading of Quantum Computing

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC purchased a new stake in shares of Quantum Computing in the 4th quarter worth about $30,000. Archer Investment Corp bought a new stake in Quantum Computing during the 4th quarter valued at approximately $33,000. IFP Advisors Inc purchased a new position in shares of Quantum Computing during the 4th quarter worth approximately $33,000. Farther Finance Advisors LLC purchased a new position in shares of Quantum Computing in the 4th quarter valued at approximately $33,000. Finally, Virtu Financial LLC grew 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 worth $40,000 after purchasing an additional 47,880 shares during the period. 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.