Quantum Computing (NASDAQ:QUBT) Shares Gap Up – What’s Next?

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $8.00, but opened at $8.20. Quantum Computing shares last traded at $7.67, with a volume of 5,051,680 shares changing hands.

Quantum Computing Price Performance

The company has a market cap of $1.11 billion, a P/E ratio of -27.94 and a beta of 3.26. The business’s 50 day moving average price is $7.98 and its 200-day moving average price is $6.73.

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

Insider Activity at Quantum Computing

In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $8.48, for a total transaction of $1,696,000.00. Following the sale, the insider now owns 24,051,256 shares of the company’s stock, valued at $203,954,650.88. This represents a 0.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 31.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Quantum Computing

A number of large investors have recently modified their holdings of QUBT. Alyeska Investment Group L.P. acquired a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $69,613,000. Anson Funds Management LP acquired a new stake in shares of Quantum Computing in the 4th quarter valued at $70,006,000. Vanguard Group Inc. raised its position in shares of Quantum Computing by 83.6% during the fourth quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company’s stock worth $69,290,000 after acquiring an additional 1,906,749 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Quantum Computing during the fourth quarter worth $13,953,000. Finally, Geode Capital Management LLC lifted its stake in shares of Quantum Computing by 11.0% during the fourth quarter. Geode Capital Management LLC now owns 762,588 shares of the company’s stock valued at $12,627,000 after acquiring an additional 75,380 shares during the period. 4.26% of the stock is currently owned by institutional investors and hedge funds.

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.