Quantum Computing (NASDAQ:QUBT) Shares Down 4.9% – Time to Sell?

Quantum Computing Inc. (NASDAQ:QUBT) shares dropped 4.9% during trading on Friday . The stock traded as low as $7.31 and last traded at $7.55. Approximately 5,370,508 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 15,907,736 shares. The stock had previously closed at $7.94.

Quantum Computing Trading Up 5.3 %

The stock has a market cap of $1.15 billion, a P/E ratio of -28.49 and a beta of 3.26. The company has a 50-day moving average price of $8.04 and a two-hundred day moving average price of $6.54.

Quantum Computing (NASDAQ:QUBT) last posted 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 the consensus estimate of $0.20 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share.

Insider Buying and Selling

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 value of $1,696,000.00. Following the sale, the insider now owns 24,051,256 shares in the company, valued at $203,954,650.88. This trade represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 31.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in QUBT. Tower Research Capital LLC TRC bought a new stake in Quantum Computing during the 4th quarter valued at about $30,000. IFP Advisors Inc bought a new stake in shares of Quantum Computing during the fourth quarter valued at approximately $33,000. Farther Finance Advisors LLC purchased a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $33,000. Archer Investment Corp bought a new position in Quantum Computing in the fourth quarter worth approximately $33,000. Finally, Hollencrest Capital Management bought a new position in Quantum Computing in the fourth quarter worth approximately $41,000. 4.26% of the stock is currently owned by institutional investors.

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.