Quantum Computing (NASDAQ:QUBT) Stock Price Up 2.5% - Here's Why

Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) were up 2.5% on Monday . The stock traded as high as $8.30 and last traded at $8.66. 2,497,714 shares were traded during trading, a decline of 84% from the average daily volume of 15,996,688 shares. The stock had previously closed at $8.45.

Quantum Computing Stock Down 3.6 %

The stock has a fifty day moving average of $7.84 and a 200-day moving average of $6.79. The firm has a market capitalization of $1.04 billion, a P/E ratio of -26.10 and a beta of 2.99.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.42). The firm had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.20 million. During the same quarter in the previous year, the business earned ($0.09) EPS.

Insiders Place Their Bets

In related news, insider Yuping Huang sold 200,000 shares of Quantum Computing stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total value 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. The trade was a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 31.10% of the company's stock.

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Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new stake in shares of Quantum Computing in the 3rd quarter valued at approximately $46,000. Geode Capital Management LLC lifted its stake in Quantum Computing by 10.5% in the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company's stock valued at $449,000 after acquiring an additional 65,486 shares during the last quarter. Virtu Financial LLC grew its position in shares of Quantum Computing by 377.7% in the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock valued at $40,000 after acquiring an additional 47,880 shares during the period. Sovereign Financial Group Inc. acquired a new position in shares of Quantum Computing during the 4th quarter worth about $209,000. Finally, Diversify Wealth Management LLC bought a new stake in shares of Quantum Computing in the 4th quarter valued at about $331,000. 4.26% of the stock is currently owned by institutional investors.

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.