Quantum Computing (NASDAQ:QUBT) Stock Price Up 1.9% – Should You Buy?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price rose 1.9% during trading on Friday . The stock traded as high as $7.52 and last traded at $7.53. Approximately 12,973,836 shares traded hands during trading, a decline of 17% from the average daily volume of 15,601,937 shares. The stock had previously closed at $7.39.

Quantum Computing Price Performance

The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -25.48 and a beta of 3.26. The firm’s fifty day moving average is $8.10 and its two-hundred day moving average is $6.37.

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 the consensus estimate 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 period in the prior year, the firm earned ($0.09) earnings per share.

Institutional Investors Weigh In On Quantum Computing

Several institutional investors have recently bought and sold shares of QUBT. XTX Topco Ltd acquired a new stake in Quantum Computing in the third quarter worth about $46,000. Geode Capital Management LLC lifted its holdings in Quantum Computing by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after acquiring an additional 65,486 shares during the last quarter. Virtu Financial LLC lifted its holdings in Quantum Computing by 377.7% in the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after acquiring an additional 47,880 shares during the last quarter. Sovereign Financial Group Inc. acquired a new stake in Quantum Computing in the 4th quarter valued at about $209,000. Finally, Diversify Wealth Management LLC acquired a new stake in Quantum Computing in the 4th quarter valued at about $331,000. Institutional investors and hedge funds 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.