Quantum Computing (NASDAQ:QUBT) CFO Sells $73,476.00 in Stock

Quantum Computing Inc. (NASDAQ:QUBT) CFO Christopher Bruce Roberts sold 9,360 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $7.85, for a total value of $73,476.00. Following the completion of the transaction, the chief financial officer owned 1,123,038 shares in the company, valued at approximately $8,815,848.30. The trade was a 0.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Christopher Bruce Roberts also recently made the following trade(s):

• On Tuesday, March 10th, Christopher Bruce Roberts sold 68,902 shares of Quantum Computing stock. The stock was sold at an average price of $7.85, for a total value of $540,880.70.

Quantum Computing Stock Up 0.3%

Quantum Computing stock traded up $0.02 during midday trading on Wednesday, reaching $7.62. The stock had a trading volume of 9,271,604 shares, compared to its average volume of 11,228,796. The firm’s 50-day moving average price is $9.78 and its 200 day moving average price is $13.21. Quantum Computing Inc. has a 12 month low of $4.86 and a 12 month high of $25.84. The firm has a market capitalization of $1.71 billion, a PE ratio of -50.80 and a beta of 3.51.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The business had revenue of $0.20 million for the quarter, compared to analysts’ expectations of $0.39 million.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on QUBT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum Computing in a research report on Monday, December 29th. Cantor Fitzgerald cut their target price on Quantum Computing from $15.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Wedbush initiated coverage on Quantum Computing in a research report on Wednesday, December 17th. They set a “neutral” rating and a $12.00 price target on the stock. Lake Street Capital lowered their price target on shares of Quantum Computing from $24.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, November 17th. Finally, Wall Street Zen cut shares of Quantum Computing from a “hold” rating to a “sell” rating in a research note on Saturday. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.00.

Hedge Funds Weigh In On Quantum Computing

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aventura Private Wealth LLC bought a new position in Quantum Computing in the 4th quarter worth about $26,000. International Assets Investment Management LLC bought a new position in shares of Quantum Computing in the fourth quarter worth approximately $26,000. Farther Finance Advisors LLC raised its stake in Quantum Computing by 724.7% in the third quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company’s stock valued at $28,000 after purchasing an additional 1,319 shares in the last quarter. Rhumbline Advisers bought a new stake in Quantum Computing during the first quarter valued at approximately $28,000. Finally, Tucker Asset Management LLC purchased a new position in Quantum Computing in the 4th quarter worth approximately $29,000. 4.26% of the stock is currently owned by hedge funds and other institutional investors.

About Quantum Computing

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.