Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $8.02, but opened at $7.50. Quantum Computing shares last traded at $8.22, with a volume of 14,148,923 shares changing hands.
Quantum Computing Stock Performance
The company has a market cap of $1.20 billion, a price-to-earnings ratio of -30.17 and a beta of 3.26. The company has a fifty day moving average of $8.10 and a two-hundred day moving average of $6.41.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.47) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.42). The firm had revenue of $0.06 million during the quarter, compared to analysts' expectations of $0.20 million. During the same quarter last year, the firm earned ($0.09) earnings per share.
Hedge Funds Weigh In On Quantum Computing
A number of hedge funds have recently modified their holdings of QUBT. Alyeska Investment Group L.P. bought a new position in Quantum Computing during the 4th quarter worth $69,613,000. Anson Funds Management LP bought a new position in shares of Quantum Computing during the fourth quarter worth about $70,006,000. Vanguard Group Inc. raised its position in shares of Quantum Computing by 83.6% during the fourth quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company's stock worth $69,290,000 after acquiring an additional 1,906,749 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of Quantum Computing in the fourth quarter worth approximately $13,953,000. Finally, Geode Capital Management LLC boosted its holdings in Quantum Computing by 11.0% in the fourth quarter. Geode Capital Management LLC now owns 762,588 shares of the company's stock valued at $12,627,000 after acquiring an additional 75,380 shares during the last quarter. Institutional investors and hedge funds own 4.26% of the company's stock.
About Quantum Computing
(
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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.
Further Reading
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