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

Shares of Quantum Computing Inc. (NASDAQ:QUBT) gapped down before the market opened 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 changing hands.

Quantum Computing Price Performance

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

Quantum Computing (NASDAQ:QUBT) last posted its 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 business had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.20 million. During the same quarter in the prior year, the company earned ($0.09) EPS.

Insider Buying and Selling at Quantum Computing

In other news, insider Yuping Huang sold 200,000 shares of the business’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 sale, the insider now directly owns 24,051,256 shares of the company’s stock, valued at approximately $203,954,650.88. The trade was a 0.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 31.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Quantum Computing

Institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new position in Quantum Computing during the third quarter worth $46,000. Geode Capital Management LLC lifted its stake in 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 in the last quarter. Virtu Financial LLC boosted its holdings in 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 period. Sovereign Financial Group Inc. acquired a new position in Quantum Computing in the 4th quarter valued at about $209,000. Finally, Diversify Wealth Management LLC purchased a new stake in Quantum Computing during the fourth quarter worth 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.