Insider Selling: Quantum Computing Inc. (NASDAQ:QUBT) Insider Sells 200,000 Shares of Stock

Quantum Computing Inc. (NASDAQ:QUBT) insider Yuping Huang sold 200,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 24,051,256 shares in the company, valued at approximately $203,954,650.88. This represents a 0.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Quantum Computing Stock Down 0.9 %

NASDAQ QUBT opened at $7.94 on Friday. Quantum Computing Inc. has a 52 week low of $0.35 and a 52 week high of $27.15. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of -27.38 and a beta of 3.26. The company has a fifty day moving average of $8.04 and a two-hundred day moving average of $6.54.

Quantum Computing (NASDAQ:QUBT) last released 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 for the quarter, compared to analysts’ expectations of $0.20 million. During the same period in the previous year, the business earned ($0.09) EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. XTX Topco Ltd bought a new position in shares of Quantum Computing in the third quarter worth about $46,000. Geode Capital Management LLC boosted its position in Quantum Computing by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after buying an additional 65,486 shares during the period. Virtu Financial LLC grew its stake in Quantum Computing by 377.7% in the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after acquiring an additional 47,880 shares in the last quarter. Sovereign Financial Group Inc. purchased a new position in shares of Quantum Computing during the fourth quarter worth approximately $209,000. Finally, Diversify Wealth Management LLC bought a new stake in shares of Quantum Computing during the fourth quarter valued at approximately $331,000. 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.