Quantum Computing (NASDAQ:QUBT) Trading Up 5.8% – Should You Buy?

Quantum Computing Inc. (NASDAQ:QUBT) was up 5.8% on Thursday . The company traded as high as $1.13 and last traded at $1.10. Approximately 1,871,011 shares traded hands during mid-day trading, an increase of 68% from the average daily volume of 1,116,255 shares. The stock had previously closed at $1.04.

Quantum Computing Stock Down 0.9 %

The firm has a market capitalization of $103.70 million, a price-to-earnings ratio of -3.41 and a beta of 1.74. The stock’s 50 day moving average price is $0.72 and its two-hundred day moving average price is $0.70.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $0.18 million during the quarter.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. TRUE Private Wealth Advisors raised its position in Quantum Computing by 318.1% in the second quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock worth $33,000 after purchasing an additional 50,000 shares in the last quarter. Virtu Financial LLC grew its holdings in Quantum Computing by 17.7% during the first quarter. Virtu Financial LLC now owns 95,425 shares of the company’s stock valued at $94,000 after purchasing an additional 14,326 shares during the period. PEAK6 Investments LLC acquired a new position in Quantum Computing during the first quarter valued at approximately $129,000. Finally, Independence Bank of Kentucky acquired a new position in Quantum Computing during the first quarter valued at approximately $25,000. Institutional investors and hedge funds 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.