Quantum Computing (NASDAQ:QUBT) Shares Down 1.6% - Time to Sell?

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) traded down 1.6% during mid-day trading on Thursday . The stock traded as low as $6.28 and last traded at $6.31. 1,397,939 shares changed hands during trading, a decline of 92% from the average session volume of 16,488,333 shares. The stock had previously closed at $6.41.

Quantum Computing Trading Down 8.4 %

The company has a market cap of $805.63 million, a P/E ratio of -20.24 and a beta of 3.00. The stock's 50-day moving average price is $6.95 and its 200-day moving average price is $7.38.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued 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 analysts' expectations of $0.20 million. During the same period in the prior year, the company earned ($0.09) EPS.

Insider Buying and Selling

In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of the stock in a transaction 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 completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 31.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers bought a new position in Quantum Computing during the first quarter worth about $28,000. Tower Research Capital LLC TRC bought a new stake in Quantum Computing during the 4th quarter valued at $30,000. Archer Investment Corp purchased a new stake in shares of Quantum Computing during the fourth quarter worth $33,000. IFP Advisors Inc bought a new position in shares of Quantum Computing in the fourth quarter worth $33,000. Finally, Farther Finance Advisors LLC purchased a new position in shares of Quantum Computing in the fourth quarter valued at $33,000. Institutional investors 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.