Christopher Boehmler Sells 96,679 Shares of Quantum Computing Inc. (NASDAQ:QUBT) Stock

Quantum Computing Inc. (NASDAQ:QUBT) CFO Christopher Boehmler sold 96,679 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $15.96, for a total transaction of $1,542,996.84. Following the sale, the chief financial officer now owns 131,060 shares of the company’s stock, valued at approximately $2,091,717.60. This represents a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Christopher Boehmler also recently made the following trade(s):

• On Wednesday, June 11th, Christopher Boehmler sold 83,495 shares of Quantum Computing stock. The shares were sold at an average price of $19.92, for a total value of $1,663,220.40.
• On Monday, June 9th, Christopher Boehmler sold 92,271 shares of Quantum Computing stock. The stock was sold at an average price of $15.00, for a total value of $1,384,065.00.

Quantum Computing Price Performance

Shares of QUBT opened at $18.97 on Thursday. The company has a 50-day simple moving average of $9.37 and a two-hundred day simple moving average of $9.55. The firm has a market capitalization of $2.67 billion, a PE ratio of -65.41 and a beta of 3.85. Quantum Computing Inc. has a one year low of $0.35 and a one year high of $27.15.

Quantum Computing (NASDAQ:QUBT) last announced its earnings results on Thursday, March 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The firm had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $0.20 million. During the same period in the prior year, the company earned ($0.09) earnings per share.

Institutional Investors Weigh In On Quantum Computing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers bought a new stake in shares of Quantum Computing during the 1st quarter valued at $28,000. Tower Research Capital LLC TRC purchased a new position in Quantum Computing during the 4th quarter valued at about $30,000. Hollencrest Capital Management boosted its stake in Quantum Computing by 60.0% during the first quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $32,000 after acquiring an additional 1,500 shares in the last quarter. IFP Advisors Inc bought a new stake in Quantum Computing during the fourth quarter worth about $33,000. Finally, Farther Finance Advisors LLC purchased a new stake in Quantum Computing in the fourth quarter worth about $33,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on QUBT shares. Wall Street Zen upgraded Quantum Computing from a “strong sell” rating to a “hold” rating in a report on Thursday, May 22nd. Ascendiant Capital Markets raised their target price on shares of Quantum Computing from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, June 6th.

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.