Quantum Computing (NASDAQ:QUBT) Shares Gap Down – Should You Sell?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) gapped down prior to trading on Friday . The stock had previously closed at $7.94, but opened at $7.73. Quantum Computing shares last traded at $7.38, with a volume of 3,507,982 shares trading hands.

Quantum Computing Trading Down 2.8 %

The stock has a 50-day moving average price of $8.04 and a 200 day moving average price of $6.54. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -26.61 and a beta of 3.26.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The company had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $0.20 million. During the same period last year, the firm earned ($0.09) EPS.

Insider Buying and Selling

In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 24,051,256 shares of the company’s stock, valued at $203,954,650.88. This trade represents a 0.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 31.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Quantum Computing

Large investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new position in Quantum Computing during the third quarter worth $46,000. Geode Capital Management LLC raised its holdings in shares of Quantum Computing by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after acquiring an additional 65,486 shares during the period. Virtu Financial LLC boosted 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 acquiring an additional 47,880 shares during the last quarter. Sovereign Financial Group Inc. purchased a new stake in shares of Quantum Computing in the fourth quarter valued at about $209,000. Finally, Diversify Wealth Management LLC acquired a new stake in Quantum Computing during the fourth quarter worth about $331,000. 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.