Quantum Computing (NASDAQ:QUBT) Trading Up 13.8% – Time to Buy?

Quantum Computing Inc. (NASDAQ:QUBT) rose 13.8% during trading on Tuesday . The company traded as high as $17.59 and last traded at $16.32. Approximately 36,109,323 shares traded hands during trading, an increase of 82% from the average daily volume of 19,869,475 shares. The stock had previously closed at $14.34.

Analyst Upgrades and Downgrades

QUBT has been the topic of several research analyst reports. Wall Street Zen upgraded Quantum Computing from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Ascendiant Capital Markets increased their target price on shares of Quantum Computing from $14.00 to $22.00 and gave the company a “buy” rating in a research note on Friday.

Quantum Computing Price Performance

The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -52.20 and a beta of 3.85. The stock has a 50 day moving average price of $8.97 and a two-hundred day moving average price of $9.45.

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

Insider Buying and Selling

In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of the company’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 of the company’s stock, valued at $203,954,650.88. This represents a 0.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Javad Shabani sold 39,973 shares of the company’s stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.66, for a total transaction of $466,085.18. The disclosure for this sale can be found here. Insiders sold 739,973 shares of company stock valued at $8,012,085 over the last 90 days. Company insiders own 19.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Focus Financial Network Inc. purchased a new stake in shares of Quantum Computing during the fourth quarter valued at approximately $1,536,000. Essex Financial Services Inc. purchased a new position in shares of Quantum Computing in the fourth quarter valued at about $174,000. UNICOM Systems Inc. bought a new position in shares of Quantum Computing during the fourth quarter valued at about $5,707,000. SRH Advisors LLC purchased a new stake in shares of Quantum Computing during the fourth quarter worth about $69,000. Finally, Capital Advisors Inc. OK purchased a new stake in Quantum Computing in the fourth quarter worth $166,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Quantum Computing Company Profile

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.