Quantum Computing (NASDAQ:QUBT) Stock Price Down 6.4%

Quantum Computing Inc. (NASDAQ:QUBT) dropped 6.4% during mid-day trading on Wednesday . The stock traded as low as $0.64 and last traded at $0.66. Approximately 752,130 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 1,270,455 shares. The stock had previously closed at $0.70.

Quantum Computing Price Performance

The company has a market cap of $67.28 million, a P/E ratio of -2.38 and a beta of 1.77. The company has a fifty day simple moving average of $0.65 and a 200-day simple moving average of $0.79.

Quantum Computing (NASDAQ:QUBT) last announced its earnings results on Tuesday, June 11th. The company reported ($0.08) earnings per share (EPS) for the quarter. The firm had revenue of $0.03 million during the quarter.

Institutional Trading of Quantum Computing

Several institutional investors and hedge funds have recently bought and sold shares of the stock. PEAK6 Investments LLC acquired a new position in shares of Quantum Computing in the first quarter worth about $129,000. Virtu Financial LLC raised its holdings in shares of Quantum Computing by 17.7% during the first quarter. Virtu Financial LLC now owns 95,425 shares of the company’s stock valued at $94,000 after acquiring an additional 14,326 shares during the period. TRUE Private Wealth Advisors lifted its position in shares of Quantum Computing by 318.1% in the 2nd quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock valued at $33,000 after acquiring an additional 50,000 shares in the last quarter. Finally, Independence Bank of Kentucky purchased a new stake in shares of Quantum Computing in the 1st quarter valued at approximately $25,000. 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.