Quantum Computing (NASDAQ:QUBT) Shares Gap Up – Time to Buy?

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $8.00, but opened at $8.20. Quantum Computing shares last traded at $7.67, with a volume of 5,051,680 shares traded.

Quantum Computing Stock Performance

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

Quantum Computing (NASDAQ:QUBT) last posted its earnings results on Thursday, March 20th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate 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 last year, the business earned ($0.09) earnings per share.

Insiders Place Their Bets

In other news, insider Yuping Huang sold 200,000 shares of the firm’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 transaction, the insider now directly 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 31.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Quantum Computing

A number of institutional investors and hedge funds have recently bought and sold shares of QUBT. UNICOM Systems Inc. acquired a new position in shares of Quantum Computing in the fourth quarter worth $5,707,000. SBI Securities Co. Ltd. acquired a new position in Quantum Computing in the 4th quarter valued at about $1,602,000. Farther Finance Advisors LLC purchased a new position in Quantum Computing in the 4th quarter valued at about $33,000. SG Americas Securities LLC acquired a new stake in shares of Quantum Computing during the 4th quarter worth about $626,000. Finally, Virtu Financial LLC grew its holdings 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 buying an additional 47,880 shares in the last quarter. Hedge funds and other 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.