Quantum Computing (NASDAQ:QUBT) Trading Down 4.9% – Time to Sell?

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

Quantum Computing Stock Up 6.4 %

The firm has a market cap of $1.16 billion, a PE ratio of -29.14 and a beta of 3.26. The firm has a 50-day moving average price of $8.01 and a two-hundred day moving average price of $6.64.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.47) earnings per share 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 firm earned ($0.09) EPS.

Insider Activity at Quantum Computing

In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of the firm’s stock in a transaction on Tuesday, March 25th. The stock was 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 owns 24,051,256 shares of the company’s stock, valued at $203,954,650.88. This trade represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 31.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of QUBT. Alyeska Investment Group L.P. purchased a new stake in shares of Quantum Computing in the 4th quarter valued at approximately $69,613,000. Anson Funds Management LP purchased a new stake in shares of Quantum Computing during the fourth quarter worth $70,006,000. Vanguard Group Inc. raised its stake in shares of Quantum Computing by 83.6% in the fourth quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company’s stock valued at $69,290,000 after acquiring an additional 1,906,749 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in Quantum Computing in the fourth quarter valued at $13,953,000. Finally, Geode Capital Management LLC grew its stake in Quantum Computing by 11.0% during the 4th quarter. Geode Capital Management LLC now owns 762,588 shares of the company’s stock worth $12,627,000 after purchasing an additional 75,380 shares in the last quarter. 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.