Quantum Computing (NASDAQ:QUBT) Trading Down 1.6% – Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price traded down 1.6% during trading on Thursday . The company traded as low as $6.28 and last traded at $6.31. 1,397,939 shares traded hands during trading, a decline of 92% from the average session volume of 16,488,333 shares. The stock had previously closed at $6.41.

Quantum Computing Stock Performance

The firm has a market capitalization of $880.43 million, a price-to-earnings ratio of -22.09 and a beta of 3.00. The firm’s 50-day moving average price is $7.03 and its two-hundred day moving average price is $7.20.

Quantum Computing (NASDAQ:QUBT) last announced 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 analyst estimates of $0.20 million. During the same quarter last year, the company posted ($0.09) earnings per share.

Insiders Place Their Bets

In related 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 transaction of $1,696,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 31.10% of the company’s stock.

Institutional Trading of Quantum Computing

A number of large investors have recently made changes to their positions in QUBT. UNICOM Systems Inc. acquired a new stake in shares of Quantum Computing during the fourth quarter worth about $5,707,000. SBI Securities Co. Ltd. acquired a new position in Quantum Computing during the fourth quarter worth $1,602,000. Farther Finance Advisors LLC bought a new stake in shares of Quantum Computing in the 4th quarter valued at about $33,000. SG Americas Securities LLC acquired a new position in Quantum Computing during the fourth quarter worth approximately $626,000. Finally, Virtu Financial LLC raised its stake in Quantum Computing by 377.7% in 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. 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.