Quantum Computing (NASDAQ:QUBT) Shares Up 6.6% - Still a Buy?

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares rose 6.6% during trading on Monday . The stock traded as high as $7.58 and last traded at $7.29. Approximately 6,044,988 shares traded hands during trading, a decline of 63% from the average daily volume of 16,492,777 shares. The stock had previously closed at $6.84.

Quantum Computing Stock Performance

The stock has a 50 day simple moving average of $6.95 and a 200 day simple moving average of $7.28. The stock has a market cap of $879.74 million, a P/E ratio of -22.10 and a beta of 3.00.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last released 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 business had revenue of $0.06 million during the quarter, compared to analysts' expectations of $0.20 million. During the same quarter in the previous year, the company posted ($0.09) EPS.

Insider Buying and Selling at Quantum Computing

In related news, insider Yuping Huang sold 200,000 shares of Quantum Computing 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 sale, the insider now directly owns 24,051,256 shares in the company, valued at approximately $203,954,650.88. This trade represents a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 31.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC bought a new stake in shares of Quantum Computing during the 4th quarter valued at about $30,000. IFP Advisors Inc purchased a new stake in Quantum Computing in the fourth quarter valued at approximately $33,000. Farther Finance Advisors LLC bought a new stake in Quantum Computing during the fourth quarter valued at approximately $33,000. Archer Investment Corp purchased a new position in Quantum Computing in the 4th quarter worth approximately $33,000. Finally, Hollencrest Capital Management bought a new position in shares of Quantum Computing in the 4th quarter worth $41,000. Institutional investors own 4.26% of the company's stock.

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.