Quantum Computing (NASDAQ:QUBT) Trading 0.2% Higher - Still a Buy?

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) traded up 0.2% on Wednesday . The stock traded as high as $8.05 and last traded at $7.78. 4,425,996 shares were traded during trading, a decline of 73% from the average session volume of 16,095,498 shares. The stock had previously closed at $7.76.

Quantum Computing Price Performance

The company has a market cap of $852.29 million, a P/E ratio of -21.41 and a beta of 3.00. The business's 50 day moving average price is $7.45 and its 200-day moving average price is $7.00.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The business had revenue of $0.06 million for the quarter, compared to analysts' expectations of $0.20 million. During the same period in the previous year, the firm earned ($0.09) EPS.

Insider Buying and Selling

In other news, insider Yuping Huang sold 200,000 shares of the firm's stock in a transaction dated 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 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 is available through this hyperlink. Corporate insiders own 31.10% of the company's stock.

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Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Anson Funds Management LP acquired a new stake in Quantum Computing during the 4th quarter worth approximately $70,006,000. Alyeska Investment Group L.P. acquired a new stake in shares of Quantum Computing during the fourth quarter worth $69,613,000. Vanguard Group Inc. lifted its position in Quantum Computing by 83.6% in the 4th quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company's stock valued at $69,290,000 after acquiring an additional 1,906,749 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Quantum Computing in the 4th quarter worth $13,953,000. Finally, Geode Capital Management LLC increased its holdings in Quantum Computing by 11.0% during the 4th quarter. Geode Capital Management LLC now owns 762,588 shares of the company's stock worth $12,627,000 after purchasing an additional 75,380 shares in the last quarter. Institutional investors and hedge funds 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.