Quantum Computing (NASDAQ:QUBT) Stock Price Down 8.6% – Time to Sell?

Quantum Computing Inc. (NASDAQ:QUBT) shares traded down 8.6% on Monday . The company traded as low as $5.84 and last traded at $5.86. 2,300,559 shares changed hands during trading, a decline of 86% from the average session volume of 16,631,828 shares. The stock had previously closed at $6.41.

Quantum Computing Stock Down 9.8 %

The stock has a 50-day moving average of $6.95 and a 200 day moving average of $7.38. The company has a market capitalization of $793.28 million, a PE ratio of -19.93 and a beta of 3.00.

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

Insider Activity

In other Quantum Computing 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 transaction of $1,696,000.00. Following the completion of the transaction, the insider now owns 24,051,256 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Insiders own 31.10% of the company’s stock.

Hedge Funds Weigh In On Quantum Computing

A number of hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC purchased a new stake in shares of Quantum Computing during the fourth quarter valued at approximately $30,000. IFP Advisors Inc purchased a new position in shares of Quantum Computing in the fourth quarter worth $33,000. Farther Finance Advisors LLC bought a new position in shares of Quantum Computing during the fourth quarter valued at $33,000. Archer Investment Corp purchased a new stake in shares of Quantum Computing during the fourth quarter valued at $33,000. Finally, Hollencrest Capital Management purchased a new position in Quantum Computing in the 4th quarter worth about $41,000. Institutional investors own 4.26% of the company’s stock.

Quantum Computing Company Profile

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.