Quantum Computing (NASDAQ:QUBT) Shares Gap Up – Here’s What Happened

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $7.39, but opened at $7.75. Quantum Computing shares last traded at $8.09, with a volume of 4,301,773 shares trading hands.

Quantum Computing Stock Performance

The business has a 50 day simple moving average of $8.17 and a 200-day simple moving average of $6.52. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -29.24 and a beta of 3.26.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings data on Thursday, March 20th. The company reported ($0.47) earnings per share (EPS) 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 analysts’ expectations of $0.20 million. During the same period in the prior year, the firm posted ($0.09) EPS.

Insider Activity at Quantum Computing

In related news, insider Yuping Huang sold 200,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $8.48, for a total value of $1,696,000.00. Following the sale, the insider now directly owns 24,051,256 shares in the company, valued at approximately $203,954,650.88. The trade was a 0.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 31.10% of the stock is currently owned by insiders.

Institutional Trading of Quantum Computing

Institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC acquired a new position in Quantum Computing during the fourth quarter worth $30,000. Archer Investment Corp purchased a new stake in shares of Quantum Computing in the 4th quarter valued at $33,000. IFP Advisors Inc acquired a new position in Quantum Computing during the 4th quarter worth about $33,000. Farther Finance Advisors LLC purchased a new position in Quantum Computing during the 4th quarter valued at about $33,000. Finally, Virtu Financial LLC grew its position 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 in the last quarter. 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.