Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s stock price traded down 8.6% during trading on Monday . The company traded as low as $5.84 and last traded at $5.86. 2,300,559 shares changed hands during trading, a decline of 86% from the average session volume of 16,631,828 shares. The stock had previously closed at $6.41.
Quantum Computing Stock Performance
The firm has a market capitalization of $926.40 million, a price-to-earnings ratio of -23.28 and a beta of 3.00. The firm's 50-day moving average price is $6.86 and its two-hundred day moving average price is $7.40.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued 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 firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.20 million. During the same period in the previous year, the firm posted ($0.09) earnings per share.
Insider Activity
In related news, insider Yuping Huang sold 200,000 shares of Quantum Computing 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 completion of the transaction, the insider now directly owns 24,051,256 shares of the company's stock, valued at $203,954,650.88. This trade represents a 0.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 31.10% of the stock is owned by corporate insiders.
Institutional Trading of Quantum Computing
Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in Quantum Computing during the 4th quarter valued at $30,000. IFP Advisors Inc bought a new stake in shares of 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 $33,000. Archer Investment Corp acquired a new position in Quantum Computing during the 4th quarter worth about $33,000. Finally, Hollencrest Capital Management bought a new stake in Quantum Computing during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 4.26% of the company's stock.
Quantum Computing Company Profile
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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.
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