Quantum Computing (NASDAQ:QUBT) Trading Up 5.8% – Should You Buy?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price was up 5.8% on Thursday . The stock traded as high as $1.13 and last traded at $1.10. Approximately 1,871,011 shares changed hands during mid-day trading, an increase of 68% from the average daily volume of 1,116,255 shares. The stock had previously closed at $1.04.

Quantum Computing Stock Down 0.9 %

The company has a market cap of $103.70 million, a price-to-earnings ratio of -3.41 and a beta of 1.74. The company’s fifty day moving average price is $0.72 and its two-hundred day moving average price is $0.70.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings data on Wednesday, October 2nd. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $0.18 million during the quarter.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. PEAK6 Investments LLC bought a new position in shares of Quantum Computing in the 1st quarter valued at about $129,000. TRUE Private Wealth Advisors increased its stake in shares of Quantum Computing by 318.1% during the 2nd quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock worth $33,000 after purchasing an additional 50,000 shares during the last quarter. Independence Bank of Kentucky acquired a new position in shares of Quantum Computing during the 1st quarter worth about $25,000. Finally, Virtu Financial LLC increased its stake in shares of Quantum Computing by 17.7% during the 1st quarter. Virtu Financial LLC now owns 95,425 shares of the company’s stock worth $94,000 after purchasing an additional 14,326 shares during the last quarter. 4.26% of the stock is owned by institutional investors and hedge funds.

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.