Quantum Computing (NASDAQ:QUBT) Shares Down 6.4% – Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT) dropped 6.4% during trading on Thursday . The company traded as low as $7.11 and last traded at $7.35. Approximately 4,535,283 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 16,145,709 shares. The stock had previously closed at $7.85.

Quantum Computing Price Performance

The stock has a market cap of $893.46 million, a price-to-earnings ratio of -22.45 and a beta of 2.99. The firm has a 50 day simple moving average of $7.68 and a two-hundred day simple moving average of $6.83.

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

Insider Buying and Selling at Quantum Computing

In related news, insider Yuping Huang sold 200,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 24,051,256 shares in the company, valued at $203,954,650.88. This represents a 0.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 31.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC acquired a new stake in shares of Quantum Computing during the fourth quarter worth about $30,000. Archer Investment Corp acquired a new stake in Quantum Computing during the 4th quarter worth approximately $33,000. IFP Advisors Inc bought a new position in Quantum Computing in the fourth quarter valued at approximately $33,000. Farther Finance Advisors LLC acquired a new position in shares of Quantum Computing in the fourth quarter valued at approximately $33,000. Finally, Virtu Financial LLC increased its position in shares of Quantum Computing by 377.7% during the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after acquiring an additional 47,880 shares in the last quarter. 4.26% of the stock is currently owned by institutional investors.

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.