Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) were up 2.2% during trading on Monday . The company traded as high as $7.06 and last traded at $6.66. Approximately 5,873,491 shares traded hands during trading, a decline of 64% from the average daily volume of 16,291,885 shares. The stock had previously closed at $6.51.
Quantum Computing Price Performance
The business has a fifty day moving average price of $7.26 and a 200 day moving average price of $7.08. The company has a market capitalization of $918.58 million, a price-to-earnings ratio of -22.95 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) 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 analysts' expectations of $0.20 million. During the same period in the prior year, the firm posted ($0.09) EPS.
Insider Activity at Quantum Computing
In other news, insider Yuping Huang sold 200,000 shares of Quantum Computing stock in a transaction that occurred 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 owns 24,051,256 shares of the company's stock, valued at approximately $203,954,650.88. This trade represents a 0.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.10% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of QUBT. Rhumbline Advisers bought a new stake in Quantum Computing in the 1st quarter valued at $28,000. Tower Research Capital LLC TRC bought a new stake in Quantum Computing during the 4th quarter worth about $30,000. Archer Investment Corp acquired a new stake in Quantum Computing in the 4th quarter valued at about $33,000. IFP Advisors Inc acquired a new stake in Quantum Computing in the 4th quarter valued at about $33,000. Finally, Farther Finance Advisors LLC bought a new position in shares of Quantum Computing in the fourth quarter worth about $33,000. 4.26% of the stock is owned by institutional investors.
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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