Quantum Computing (NASDAQ:QUBT) Trading Up 6.6% – What’s Next?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) traded up 6.6% during trading on Monday . The company traded as high as $7.58 and last traded at $7.29. 6,044,988 shares changed hands during trading, a decline of 63% from the average session volume of 16,492,777 shares. The stock had previously closed at $6.84.

Quantum Computing Trading Down 2.3 %

The company has a market capitalization of $937.38 million, a P/E ratio of -23.55 and a beta of 3.00. The stock has a 50 day moving average of $7.09 and a 200-day moving average of $7.21.

Quantum Computing (NASDAQ:QUBT) last issued 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 firm had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.20 million. During the same quarter in the previous year, the business posted ($0.09) earnings per share.

Insider Activity at Quantum Computing

In other news, insider Yuping Huang sold 200,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 24,051,256 shares of the company’s stock, valued at $203,954,650.88. This represents a 0.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 31.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Quantum Computing

A number of large investors have recently added to or reduced their stakes in QUBT. Tower Research Capital LLC TRC acquired a new stake in Quantum Computing in the 4th quarter worth about $30,000. IFP Advisors Inc acquired a new stake in Quantum Computing in the 4th quarter valued at about $33,000. Farther Finance Advisors LLC acquired a new position in Quantum Computing during the fourth quarter worth $33,000. Archer Investment Corp purchased a new stake in Quantum Computing in the 4th quarter valued at about $33,000. Finally, Hollencrest Capital Management acquired a new position in Quantum Computing in the 4th quarter valued at about $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.