Quantum Computing (NASDAQ:QUBT) Stock Price Up 2.2% - Time to Buy?

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s share price traded up 2.2% during trading on Monday . The stock traded as high as $7.06 and last traded at $6.66. 5,873,491 shares were traded during mid-day trading, a decline of 64% from the average session volume of 16,291,885 shares. The stock had previously closed at $6.51.

Quantum Computing Stock Down 0.1 %

The company has a market cap of $938.76 million, a price-to-earnings ratio of -23.59 and a beta of 3.00. The business's fifty day simple moving average is $7.20 and its two-hundred day simple moving average is $7.17.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its earnings results on Thursday, March 20th. The company reported ($0.47) 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 analysts' expectations of $0.20 million. During the same quarter last year, the business earned ($0.09) earnings per share.

Insider Transactions at Quantum Computing

In other Quantum Computing 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 transaction, the insider now owns 24,051,256 shares of the company's stock, valued at $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 SEC, which is available at this hyperlink. Insiders own 31.10% of the company's stock.

Institutional Investors Weigh In On Quantum Computing

Several large investors have recently modified their holdings of QUBT. UNICOM Systems Inc. purchased a new stake in Quantum Computing in the 4th quarter valued at $5,707,000. SBI Securities Co. Ltd. acquired a new position in Quantum Computing in the fourth quarter valued at $1,602,000. Farther Finance Advisors LLC purchased a new stake in shares of Quantum Computing in the fourth quarter valued at about $33,000. SG Americas Securities LLC acquired a new stake in shares of Quantum Computing during the fourth quarter worth about $626,000. Finally, Virtu Financial LLC boosted 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 buying an additional 47,880 shares during the period. 4.26% of the stock is owned by institutional investors and hedge funds.

Quantum Computing Company Profile

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.