Quantum computing’s chief quantum officer sells $1.7 million in stock

HOBOKEN, NJ—Huang Yuping, the Chief Quantum Officer and a Director at Quantum Computing Inc. (NASDAQ:QUBT), recently sold 200,000 shares of the company’s common stock. The company, currently valued at $1.09 billion, has seen its stock surge over 1,170% in the past six months, though InvestingPro analysis indicates the stock is trading above its Fair Value. The shares were sold at an average price of $8.482 each, resulting in a total transaction value of approximately $1.7 million. Following this sale, Dr. Huang retains ownership of 24,051,256 shares, which includes shares acquired through the merger with QPhoton, Inc. in June 2022 and shares issuable upon the exercise of vested options. InvestingPro data shows QUBT exhibits high price volatility and trades at a significant premium to book value. Discover 13 additional key insights about QUBT with an InvestingPro subscription, including detailed valuation metrics and growth prospects.

In other recent news, Quantum Computing Inc. announced its Q4 2024 earnings, revealing a significant shortfall in both earnings per share (EPS) and revenue compared to forecasts. The company reported an EPS of -$0.47, missing the expected -$0.08, and revenue of $62,000, which fell short of the anticipated $400,000. Despite the earnings miss, Quantum Computing improved its gross margin to 55% from 13% a year ago, indicating better cost management. The company also secured five purchase orders for its photonic chips and highlighted ongoing product innovation with the DIRAC3 Quantum Optimization Machine. Additionally, Quantum Computing anticipates the completion of its photonic chip foundry by March 2025, with initial chip deliveries expected in Q2 2025. Meanwhile, the company has expanded its partnership with NASA, securing multiple contracts for developing quantum solutions. In terms of analyst activity, Ascendiant Capital has shown interest in the company’s international market focus and the ramp-up of its photonic chip foundry. These developments reflect Quantum Computing’s ongoing efforts to drive revenue growth through its technological advancements and strategic partnerships.

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