Quantum Computing (NASDAQ:QUBT) Shares Gap Up - Should You Buy?

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $7.39, but opened at $7.75. Quantum Computing shares last traded at $8.09, with a volume of 4,301,773 shares traded.

Quantum Computing Trading Down 4.0 %

The business's 50-day simple moving average is $8.04 and its 200-day simple moving average is $6.54. The company has a market capitalization of $1.05 billion, a PE ratio of -26.99 and a beta of 3.26.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its earnings results on Thursday, March 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.42). The company had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.20 million. During the same period in the previous year, the company earned ($0.09) EPS.

Insider Activity at Quantum Computing

In other Quantum Computing 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 value of $1,696,000.00. Following the completion of the transaction, the insider now owns 24,051,256 shares of the company's stock, valued at approximately $203,954,650.88. The trade was a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 31.10% of the company's stock.

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Institutional Investors Weigh In On Quantum Computing

A number of institutional investors have recently modified their holdings of QUBT. Tower Research Capital LLC TRC acquired a new stake in Quantum Computing in the fourth quarter valued at approximately $30,000. Archer Investment Corp acquired a new stake in Quantum Computing in the 4th quarter valued at $33,000. IFP Advisors Inc acquired a new position in Quantum Computing during the fourth quarter worth $33,000. Farther Finance Advisors LLC acquired a new stake in shares of Quantum Computing in the fourth quarter valued at about $33,000. Finally, Virtu Financial LLC increased its stake 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 in the last quarter. 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.