Quantum Computing (NASDAQ:QUBT) Shares Down 12.4% – What’s Next?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) traded down 12.4% on Friday . The company traded as low as $6.50 and last traded at $6.63. 4,606,517 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 16,183,008 shares. The stock had previously closed at $7.57.

Quantum Computing Trading Down 14.0 %

The stock has a market capitalization of $893.46 million, a price-to-earnings ratio of -22.45 and a beta of 2.99. The company has a fifty day moving average of $7.68 and a two-hundred day moving average of $6.88.

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

Insider Buying and Selling at Quantum Computing

In other news, insider Yuping Huang sold 200,000 shares of Quantum Computing stock in a transaction dated 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 transaction, the insider now directly owns 24,051,256 shares in the company, valued at approximately $203,954,650.88. The trade was a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 31.10% of the company’s stock.

Institutional Trading of Quantum Computing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC acquired a new position in shares of Quantum Computing during the fourth quarter worth approximately $30,000. Archer Investment Corp bought a new position in Quantum Computing during the fourth quarter worth $33,000. IFP Advisors Inc acquired a new position in Quantum Computing during the 4th quarter valued at $33,000. Farther Finance Advisors LLC bought a new stake in Quantum Computing in the 4th quarter valued at $33,000. Finally, Virtu Financial LLC grew 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 purchasing an additional 47,880 shares during the last quarter. Institutional investors and hedge funds own 4.26% of the company’s stock.

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.