Quantum Computing (NASDAQ:QUBT) Trading Down 1.8% – Time to Sell?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price fell 1.8% during mid-day trading on Thursday . The company traded as low as $7.68 and last traded at $7.86. 4,441,578 shares were traded during trading, a decline of 72% from the average session volume of 15,871,309 shares. The stock had previously closed at $8.01.

Quantum Computing Price Performance

The firm has a market capitalization of $1.05 billion, a PE ratio of -26.34 and a beta of 3.26. The firm has a fifty day moving average price of $8.10 and a 200 day moving average price of $6.53.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.42). The business had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.20 million. During the same period in the previous year, the company earned ($0.09) earnings per share.

Insider Buying and Selling

In other news, insider Yuping Huang sold 200,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total value of $1,696,000.00. Following the completion of the sale, the insider now owns 24,051,256 shares of the company’s stock, valued at $203,954,650.88. This trade represents a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Quantum Computing

Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC purchased a new position in Quantum Computing during the 4th quarter valued at about $30,000. Archer Investment Corp purchased a new position in Quantum Computing during the fourth quarter valued at approximately $33,000. IFP Advisors Inc acquired a new position in Quantum Computing in the 4th quarter valued at approximately $33,000. Farther Finance Advisors LLC purchased a new stake in Quantum Computing in the 4th quarter worth approximately $33,000. Finally, Virtu Financial LLC lifted its position in Quantum Computing by 377.7% in the 3rd 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. 4.26% of the stock is owned by hedge funds and other institutional investors.

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.