Quantum Computing (NASDAQ:QUBT) Shares Down 12.4% – Time to Sell?

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

Quantum Computing Stock Down 14.0 %

The firm has a 50-day moving average of $7.68 and a two-hundred day moving average of $6.88. The stock has a market capitalization of $893.46 million, a price-to-earnings ratio of -22.45 and a beta of 2.99.

Quantum Computing (NASDAQ:QUBT) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $0.20 million. During the same quarter last year, the company earned ($0.09) EPS.

Insiders Place Their Bets

In other news, insider Yuping Huang sold 200,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The shares were 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 of the company’s stock, valued at approximately $203,954,650.88. This represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 31.10% of the company’s stock.

Institutional Trading of Quantum Computing

Institutional investors 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 4th quarter worth about $30,000. IFP Advisors Inc acquired a new stake in Quantum Computing in the fourth quarter valued at approximately $33,000. Farther Finance Advisors LLC bought a new stake in Quantum Computing in the fourth quarter worth approximately $33,000. Archer Investment Corp acquired a new position in shares of Quantum Computing during the 4th quarter worth $33,000. Finally, Hollencrest Capital Management bought a new position in shares of Quantum Computing during the 4th quarter valued at $41,000. 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.