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

Quantum Computing Inc. (NASDAQ:QUBT) insider Yuping Huang sold 200,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $8.48, for a total transaction of $1,696,000.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Quantum Computing Trading Down 3.1 %

Shares of QUBT stock traded down $0.27 on Tuesday, reaching $8.48. 18,528,628 shares of the stock were exchanged, compared to its average volume of 15,852,204. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -29.24 and a beta of 3.26. The business’s 50 day moving average price is $8.17 and its 200 day moving average price is $6.52. Quantum Computing Inc. has a twelve month low of $0.35 and a twelve month high of $27.15.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $0.20 million. During the same period in the prior year, the company posted ($0.09) earnings per share.

Hedge Funds Weigh In On Quantum Computing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UNICOM Systems Inc. purchased a new stake in shares of Quantum Computing during the 4th quarter worth approximately $5,707,000. SBI Securities Co. Ltd. acquired a new stake in Quantum Computing during the 4th quarter worth $1,602,000. SG Americas Securities LLC purchased a new stake in Quantum Computing in the fourth quarter valued at $626,000. 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 valued at $40,000 after acquiring an additional 47,880 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in Quantum Computing in the fourth quarter valued at $786,000. 4.26% of the stock is owned by institutional investors and hedge funds.

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.