Quantum Computing (NASDAQ:QUBT) Shares Up 0.6% – What’s Next?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) traded up 0.6% on Tuesday . The stock traded as high as $8.40 and last traded at $8.05. 7,154,310 shares traded hands during trading, a decline of 55% from the average session volume of 16,041,368 shares. The stock had previously closed at $8.00.

Quantum Computing Stock Up 1.2 %

The firm has a 50 day moving average of $7.84 and a two-hundred day moving average of $6.79. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -27.07 and a beta of 2.99.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings results 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 firm had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.20 million. During the same quarter in the prior year, the firm posted ($0.09) EPS.

Insider Activity at Quantum Computing

In other news, insider Yuping Huang sold 200,000 shares of Quantum Computing stock in a transaction 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 transaction, the insider now owns 24,051,256 shares in the company, valued at approximately $203,954,650.88. The trade was a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 31.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of QUBT. UNICOM Systems Inc. bought a new position in Quantum Computing during the 4th quarter worth approximately $5,707,000. SBI Securities Co. Ltd. acquired a new position in shares of Quantum Computing in the 4th quarter valued at about $1,602,000. Farther Finance Advisors LLC acquired a new stake in shares of Quantum Computing during the 4th quarter worth approximately $33,000. SG Americas Securities LLC acquired a new position in shares of Quantum Computing during the fourth quarter valued at about $626,000. Finally, Virtu Financial LLC raised its position in shares of Quantum Computing by 377.7% during the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after purchasing an additional 47,880 shares during the period. 4.26% of the stock is owned by institutional investors.

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.