Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) were down 12.4% during trading on Friday . The stock traded as low as $6.50 and last traded at $6.63. Approximately 4,606,517 shares were traded during trading, a decline of 72% from the average daily volume of 16,183,008 shares. The stock had previously closed at $7.57.
Quantum Computing Stock Performance
The stock has a market cap of $852.29 million, a P/E ratio of -21.41 and a beta of 3.00. The stock has a fifty day simple moving average of $7.45 and a 200-day simple moving average of $7.00.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The company had revenue of $0.06 million during the quarter, compared to analysts' expectations of $0.20 million. During the same period in the previous year, the business earned ($0.09) earnings per share.
Insider Buying and Selling at Quantum Computing
In other Quantum Computing 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 in the company, valued at $203,954,650.88. This represents a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 31.10% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers acquired a new stake in Quantum Computing in the first quarter valued at about $28,000. Tower Research Capital LLC TRC acquired a new stake in Quantum Computing during the 4th quarter valued at approximately $30,000. Archer Investment Corp bought a new position in Quantum Computing during the fourth quarter worth $33,000. IFP Advisors Inc bought a new position in shares of Quantum Computing in the 4th quarter worth about $33,000. Finally, Farther Finance Advisors LLC bought a new stake in Quantum Computing in the fourth quarter worth approximately $33,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.
Quantum Computing Company Profile
(
Get Free Report)
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.
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