Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) were up 2% during trading on Friday . The company traded as high as $7.57 and last traded at $7.08. Approximately 7,827,585 shares changed hands during trading, a decline of 53% from the average daily volume of 16,699,583 shares. The stock had previously closed at $6.94.
Quantum Computing Price Performance
The firm has a market capitalization of $978.56 million, a P/E ratio of -24.59 and a beta of 3.00. The firm's fifty day moving average price is $6.80 and its 200-day moving average price is $7.58.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last released 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 company had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.20 million. During the same period in the previous year, the company posted ($0.09) earnings per share.
Insiders Place Their Bets
In other news, insider Yuping Huang sold 200,000 shares of the company's 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 transaction, the insider now directly owns 24,051,256 shares of the company's stock, valued at approximately $203,954,650.88. This represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 31.10% of the company's stock.
Hedge Funds Weigh In On Quantum Computing
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC bought a new position in shares of Quantum Computing during the 4th quarter valued at $30,000. IFP Advisors Inc acquired a new position in Quantum Computing during the fourth quarter worth $33,000. Farther Finance Advisors LLC bought a new position in Quantum Computing during the fourth quarter valued at about $33,000. Archer Investment Corp acquired a new stake in shares of Quantum Computing in the fourth quarter worth about $33,000. Finally, Hollencrest Capital Management bought a new stake in shares of Quantum Computing during the 4th quarter worth about $41,000. Institutional investors own 4.26% of the company's stock.
About Quantum Computing
(
Get Free Report)
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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