Quantum Computing (NASDAQ:QUBT) Shares Down 1.4% – Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT) traded down 1.4% during mid-day trading on Tuesday . The stock traded as low as $8.45 and last traded at $8.63. 7,619,553 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 26,607,623 shares. The stock had previously closed at $8.75.

Quantum Computing Stock Performance

The company has a market cap of $1.15 billion, a price-to-earnings ratio of -29.00 and a beta of 3.26. The firm’s 50-day moving average price is $8.15 and its 200 day moving average price is $6.46.

Quantum Computing (NASDAQ:QUBT) last released its 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 business had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.20 million. During the same period in the previous year, the company earned ($0.09) earnings per share.

Institutional Investors Weigh In On Quantum Computing

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC bought a new position in Quantum Computing during the fourth quarter worth about $30,000. Archer Investment Corp bought a new stake in shares of Quantum Computing in the 4th quarter valued at about $33,000. IFP Advisors Inc acquired a new stake in shares of Quantum Computing in the 4th quarter valued at approximately $33,000. Farther Finance Advisors LLC bought a new position in Quantum Computing during the 4th quarter worth approximately $33,000. Finally, Virtu Financial LLC boosted its stake in Quantum Computing by 377.7% during the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after acquiring an additional 47,880 shares during the last quarter. Institutional investors 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.