Quantum Computing ( (QUBT) ) has fallen by -10.13%. Read on to learn why.
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Quantum Computing has experienced a notable stock price decline of 10.13% over the past week. This downturn comes despite a recent ‘Buy’ rating from analyst Max Michaelis, who set a price target of $25.00, significantly higher than the current share price of $15.81. The company’s financial performance has been under scrutiny, with a reported quarterly revenue of just $61,000 and a substantial GAAP net loss of $36.48 million, compared to last year’s figures.
The negative sentiment surrounding Quantum Computing’s stock is further compounded by insider selling activities. Notably, Javad Shabani, a Director at the company, sold over 37,000 shares, raising concerns among investors. Additionally, the market’s bearish outlook is reflected in the options trading, where the put/call ratio has risen to 1.15, indicating a preference for puts over calls. This suggests that traders are hedging against further declines in the stock price.
Despite the current challenges, some analysts maintain a moderately bullish stance, with an average price target of $32.50. However, the increased implied volatility and insider sentiment suggest that investors should exercise caution. As Quantum Computing navigates these turbulent waters, market participants will be closely watching for any signs of stabilization or further volatility in the coming weeks.