Quantum Computing (NASDAQ:QUBT) Shares Down 4.9% – Here’s What Happened

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price was down 4.9% on Friday . The stock traded as low as $7.31 and last traded at $7.55. Approximately 5,370,508 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 15,907,736 shares. The stock had previously closed at $7.94.

Quantum Computing Trading Up 6.4 %

The business’s 50-day simple moving average is $8.01 and its 200-day simple moving average is $6.64. The company has a market capitalization of $1.16 billion, a PE ratio of -29.14 and a beta of 3.26.

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

Insider Transactions at Quantum Computing

In other news, insider Yuping Huang sold 200,000 shares of Quantum Computing stock in a transaction that occurred 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 directly owns 24,051,256 shares of the company’s stock, valued at $203,954,650.88. The trade was a 0.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 31.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new stake in shares of Quantum Computing during the 4th quarter valued at about $30,000. IFP Advisors Inc purchased a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $33,000. Farther Finance Advisors LLC acquired a new position in shares of Quantum Computing during the 4th quarter worth approximately $33,000. Archer Investment Corp acquired a new position in shares of Quantum Computing during the 4th quarter worth approximately $33,000. Finally, Hollencrest Capital Management purchased a new position in shares of Quantum Computing during the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.

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.