Quantum Computing (NASDAQ:QUBT) Shares Up 0.2% – Here’s Why

Quantum Computing Inc. (NASDAQ:QUBT)’s share price traded up 0.2% on Wednesday . The company traded as high as $8.05 and last traded at $7.78. 4,425,996 shares were traded during trading, a decline of 73% from the average session volume of 16,095,498 shares. The stock had previously closed at $7.76.

Quantum Computing Price Performance

The stock has a 50-day moving average price of $7.90 and a two-hundred day moving average price of $6.78. The stock has a market cap of $1.12 billion, a PE ratio of -28.03 and a beta of 3.26.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings results on Thursday, March 20th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate 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 previous year, the company earned ($0.09) EPS.

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 shares were 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 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 Securities & Exchange Commission, which is available through this link. 31.10% of the stock is currently owned by company insiders.

Institutional Trading of Quantum Computing

Hedge funds have recently made changes to their positions in the business. UNICOM Systems Inc. purchased a new position in Quantum Computing in the fourth quarter worth about $5,707,000. SBI Securities Co. Ltd. bought a new stake in shares of Quantum Computing in the 4th quarter valued at approximately $1,602,000. Farther Finance Advisors LLC purchased a new position in shares of Quantum Computing in the 4th quarter worth approximately $33,000. SG Americas Securities LLC purchased a new position in shares of Quantum Computing in the 4th quarter worth approximately $626,000. Finally, Virtu Financial LLC increased its position in shares of Quantum Computing by 377.7% during the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after purchasing an additional 47,880 shares during the last quarter. 4.26% of the stock is currently owned by hedge funds and other institutional investors.

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.