Quantum Computing (NASDAQ:QUBT) Shares Down 1.8% – Should You Sell?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) fell 1.8% on Thursday . The company traded as low as $7.68 and last traded at $7.86. 4,441,578 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 15,871,309 shares. The stock had previously closed at $8.01.

Quantum Computing Stock Down 4.6 %

The firm’s 50 day simple moving average is $8.10 and its 200 day simple moving average is $6.53. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -26.34 and a beta of 3.26.

Quantum Computing (NASDAQ:QUBT) last issued 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 company had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.20 million. During the same quarter in the prior year, the company posted ($0.09) EPS.

Insider Activity

In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total transaction of $1,696,000.00. Following the completion of the transaction, the insider now directly owns 24,051,256 shares of the company’s stock, valued at approximately $203,954,650.88. This trade represents a 0.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 31.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new stake in Quantum Computing in the 4th quarter valued at about $30,000. IFP Advisors Inc bought a new stake in shares of Quantum Computing in the 4th quarter worth approximately $33,000. Farther Finance Advisors LLC acquired a new stake in Quantum Computing during the fourth quarter valued at approximately $33,000. Archer Investment Corp bought a new stake in Quantum Computing during the fourth quarter worth approximately $33,000. Finally, Hollencrest Capital Management acquired a new position in Quantum Computing in the fourth quarter worth approximately $41,000. Institutional investors own 4.26% of the company’s stock.

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.