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 company’s stock in a transaction 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 transaction, the insider now owns 24,051,256 shares in the company, valued at $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 can be accessed through this hyperlink.

Quantum Computing Stock Performance

Shares of NASDAQ QUBT traded down $0.27 during trading on Tuesday, reaching $8.48. The stock had a trading volume of 18,528,628 shares, compared to its average volume of 15,852,204. The company has a market cap of $1.16 billion, a P/E ratio of -29.24 and a beta of 3.26. Quantum Computing Inc. has a fifty-two week low of $0.35 and a fifty-two week high of $27.15. The business’s 50-day moving average price is $8.17 and its 200-day moving average price is $6.52.

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

Institutional Investors Weigh In On Quantum Computing

Large investors have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. acquired a new position in shares of Quantum Computing in the fourth quarter worth $69,613,000. Anson Funds Management LP acquired a new position in Quantum Computing during the 4th quarter worth $70,006,000. Vanguard Group Inc. increased its holdings in Quantum Computing by 83.6% during the 4th quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company’s stock worth $69,290,000 after purchasing an additional 1,906,749 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in Quantum Computing during the 4th quarter worth about $13,953,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in Quantum Computing in the 4th quarter valued at about $11,750,000. 4.26% of the stock is owned by hedge funds and other 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.