Quantum Computing (NASDAQ:QUBT) Shares Down 6.2% on Insider Selling

Quantum Computing Inc. (NASDAQ:QUBT) shares fell 6.2% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $8.05 and last traded at $7.95. 7,766,404 shares changed hands during trading, a decline of 51% from the average session volume of 15,820,001 shares. The stock had previously closed at $8.48.

Specifically, insider Yuping Huang sold 200,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were 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. This trade represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Quantum Computing Trading Down 5.5 %

The firm has a fifty day simple moving average of $8.10 and a 200 day simple moving average of $6.53. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -27.62 and a beta of 3.26.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly 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 business had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.20 million. During the same quarter in the previous year, the business earned ($0.09) earnings per share.

Institutional Trading of Quantum Computing

A number of large investors have recently bought and sold shares of QUBT. XTX Topco Ltd acquired a new stake in shares of Quantum Computing during the 3rd quarter worth about $46,000. Geode Capital Management LLC increased its holdings 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 purchasing an additional 65,486 shares in the last quarter. Virtu Financial LLC boosted 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 in the last quarter. Sovereign Financial Group Inc. bought a new stake in shares of Quantum Computing during the fourth quarter worth $209,000. Finally, Diversify Wealth Management LLC acquired a new stake in shares of Quantum Computing in the fourth quarter valued at $331,000. 4.26% of the stock is currently owned by institutional investors.

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.