Quantum Computing (NASDAQ:QUBT) Stock Price Down 4.9% - What's Next?

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares were down 4.9% during trading on Friday . The stock traded as low as $7.31 and last traded at $7.55. Approximately 5,370,508 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 15,907,736 shares. The stock had previously closed at $7.94.

Quantum Computing Stock Performance

The stock has a 50-day moving average of $7.90 and a 200 day moving average of $6.78. The firm has a market capitalization of $1.11 billion, a P/E ratio of -27.77 and a beta of 3.26.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its 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 firm had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.20 million. During the same quarter in the previous year, the firm earned ($0.09) EPS.

Insiders Place Their Bets

In other news, insider Yuping Huang sold 200,000 shares of the business's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total transaction of $1,696,000.00. Following the completion of the sale, the insider now owns 24,051,256 shares in the company, valued at $203,954,650.88. The trade was a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 31.10% of the company's stock.

Institutional Trading of Quantum Computing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in shares of Quantum Computing in the 3rd quarter valued at about $46,000. Geode Capital Management LLC boosted its stake in Quantum Computing by 10.5% in the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company's stock valued at $449,000 after acquiring an additional 65,486 shares during the last quarter. Virtu Financial LLC boosted its stake in Quantum Computing by 377.7% in the third quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock valued at $40,000 after acquiring an additional 47,880 shares during the last quarter. Sovereign Financial Group Inc. acquired a new stake in Quantum Computing during the 4th quarter worth $209,000. Finally, Diversify Wealth Management LLC bought a new stake in shares of Quantum Computing during the 4th quarter valued at $331,000. 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.