Quantum Computing (NASDAQ:QUBT) Stock Price Up 1.9% – Should You Buy?

Quantum Computing Inc. (NASDAQ:QUBT) rose 1.9% on Friday . The company traded as high as $7.52 and last traded at $7.53. Approximately 12,973,836 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 15,601,937 shares. The stock had previously closed at $7.39.

Quantum Computing Stock Performance

The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -25.48 and a beta of 3.26. The stock’s fifty day simple moving average is $8.10 and its two-hundred day simple moving average is $6.37.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings data 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 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) earnings per share.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new position in shares of Quantum Computing in the fourth quarter worth about $30,000. IFP Advisors Inc acquired a new position in shares of Quantum Computing in the fourth quarter worth about $33,000. Farther Finance Advisors LLC purchased a new stake in shares of Quantum Computing in the fourth quarter worth approximately $33,000. Archer Investment Corp purchased a new stake in shares of Quantum Computing in the fourth quarter worth approximately $33,000. Finally, Hollencrest Capital Management purchased a new stake in shares of Quantum Computing in the fourth quarter worth approximately $41,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

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.