Quantum Computing (NASDAQ:QUBT) Shares Down 1.4% After Insider Selling

Quantum Computing Inc. (NASDAQ:QUBT) shares were down 1.4% on Tuesday following insider selling activity. The company traded as low as $8.45 and last traded at $8.63. Approximately 7,619,553 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 26,607,623 shares. The stock had previously closed at $8.75.

Specifically, insider Yuping Huang sold 200,000 shares of Quantum Computing stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total transaction of $1,696,000.00. Following the completion of the transaction, the insider now owns 24,051,256 shares of the company’s stock, valued at $203,954,650.88. The trade was a 0.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Quantum Computing Trading Down 0.9 %

The firm has a market cap of $1.09 billion, a P/E ratio of -27.38 and a beta of 3.26. The stock’s fifty day moving average is $8.10 and its two-hundred day moving average is $6.53.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.47) 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 the consensus estimate of $0.20 million. During the same period last year, the firm earned ($0.09) earnings per share.

Institutional Trading of Quantum Computing

Institutional investors and hedge funds have recently made changes to their positions in the stock. UNICOM Systems Inc. bought a new position in Quantum Computing in the fourth quarter valued at $5,707,000. SBI Securities Co. Ltd. bought a new position in shares of Quantum Computing during the 4th quarter valued at about $1,602,000. Farther Finance Advisors LLC purchased a new position in shares of Quantum Computing during the 4th quarter valued at about $33,000. SG Americas Securities LLC bought a new stake in Quantum Computing in the 4th quarter worth approximately $626,000. Finally, 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 buying an additional 47,880 shares in the last quarter. Hedge funds and other institutional investors own 4.26% of the company’s stock.

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.