Quantum Computing (NASDAQ:QUBT) COO Milan Begliarbekov Sells 2,860 Shares

Quantum Computing Inc. (NASDAQ:QUBT) COO Milan Begliarbekov sold 2,860 shares of the company’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $11.85, for a total transaction of $33,891.00. Following the completion of the sale, the chief operating officer directly owned 24,240 shares of the company’s stock, valued at $287,244. The trade was a 10.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Quantum Computing Stock Up 3.3%

Quantum Computing stock traded up $0.39 during trading hours on Monday, hitting $12.11. 14,828,072 shares of the company traded hands, compared to its average volume of 17,274,111. Quantum Computing Inc. has a 1-year low of $4.37 and a 1-year high of $25.84. The firm has a market cap of $2.71 billion, a P/E ratio of -19.85 and a beta of 3.49. The firm’s 50-day simple moving average is $11.73 and its two-hundred day simple moving average is $15.51.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $0.38 million during the quarter, compared to analyst estimates of $0.12 million.

Hedge Funds Weigh In On Quantum Computing

Several institutional investors and hedge funds have recently bought and sold shares of the business. SeaCrest Wealth Management LLC boosted its holdings in shares of Quantum Computing by 16.7% during the fourth quarter. SeaCrest Wealth Management LLC now owns 30,528 shares of the company’s stock worth $313,000 after purchasing an additional 4,372 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Quantum Computing by 81.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,039 shares of the company’s stock worth $236,000 after buying an additional 10,326 shares in the last quarter. Aventura Private Wealth LLC acquired a new stake in shares of Quantum Computing during the 4th quarter valued at $26,000. JPMorgan Chase & Co. grew its holdings in shares of Quantum Computing by 1,612.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 933,925 shares of the company’s stock valued at $17,194,000 after acquiring an additional 879,374 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Quantum Computing in the third quarter worth $4,582,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on QUBT shares. Cantor Fitzgerald restated a “neutral” rating and issued a $15.00 price objective on shares of Quantum Computing in a report on Thursday, December 18th. Wall Street Zen upgraded shares of Quantum Computing from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Wedbush assumed coverage on shares of Quantum Computing in a report on Wednesday, December 17th. They issued a “neutral” rating and a $12.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a research note on Monday, December 29th. Finally, Ascendiant Capital Markets decreased their price target on shares of Quantum Computing from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $17.00.

Quantum Computing Company Profile

Quantum Computing Inc (NASDAQ: QUBT) is a provider of quantum computing and quantum-inspired algorithm solutions, headquartered in the United States with research and development operations in Europe. Originally incorporated as Unigrid Software in 2019, the company rebranded in 2021 to reflect its strategic focus on commercializing emerging quantum technologies for enterprise and government customers.

The company’s flagship product, Qatalyst, is a quantum-inspired optimization platform that applies advanced heuristic solvers to address complex combinatorial problems in logistics, supply chain management, finance and other data-intensive fields.