Quantum Computing (NASDAQ:QUBT) Trading Up 0.6% – Time to Buy?

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price shot up 0.6% on Tuesday . The company traded as high as $8.40 and last traded at $8.05. 7,154,310 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 16,041,368 shares. The stock had previously closed at $8.00.

Quantum Computing Price Performance

The stock has a market cap of $1.02 billion, a PE ratio of -25.57 and a beta of 3.26. The company’s fifty day moving average is $7.98 and its 200-day moving average is $6.73.

Quantum Computing (NASDAQ:QUBT) last released 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 business had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.20 million. During the same period in the prior year, the firm earned ($0.09) EPS.

Insiders Place Their Bets

In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of Quantum Computing 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 completion of the transaction, the insider now owns 24,051,256 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Quantum Computing

Institutional investors have recently modified their holdings of the business. Alyeska Investment Group L.P. acquired a new stake in Quantum Computing in the fourth quarter valued at approximately $69,613,000. Anson Funds Management LP purchased a new position in shares of Quantum Computing during the 4th quarter valued at approximately $70,006,000. Vanguard Group Inc. grew its stake in Quantum Computing by 83.6% in the 4th quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company’s stock valued at $69,290,000 after acquiring an additional 1,906,749 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in Quantum Computing in the 4th quarter worth $13,953,000. Finally, CIBC Private Wealth Group LLC acquired a new position in Quantum Computing during the fourth quarter worth $11,750,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

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.