Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s share price fell 3.9% during trading on Friday . The stock traded as low as $6.58 and last traded at $6.58. 3,045,522 shares changed hands during trading, a decline of 81% from the average session volume of 16,394,434 shares. The stock had previously closed at $6.85.
Quantum Computing Stock Performance
The business has a 50 day simple moving average of $7.14 and a two-hundred day simple moving average of $7.21. The firm has a market capitalization of $959.34 million, a P/E ratio of -24.10 and a beta of 3.00.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its earnings results on Thursday, March 20th. The company reported ($0.47) earnings per share 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 analyst estimates of $0.20 million. During the same quarter in the prior year, the company earned ($0.09) earnings per share.
Insider Buying and Selling
In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the insider now owns 24,051,256 shares of the company's stock, valued at $203,954,650.88. This represents a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 31.10% of the stock is owned by company insiders.
Institutional Investors Weigh In On Quantum Computing
A number of institutional investors have recently made changes to their positions in the business. Rhumbline Advisers purchased a new stake in Quantum Computing during the first quarter valued at about $28,000. Tower Research Capital LLC TRC bought a new position in Quantum Computing during the 4th quarter worth approximately $30,000. Archer Investment Corp purchased a new position in Quantum Computing in the 4th quarter worth approximately $33,000. IFP Advisors Inc bought a new stake in Quantum Computing in the fourth quarter valued at approximately $33,000. Finally, Farther Finance Advisors LLC purchased a new stake in shares of Quantum Computing during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 4.26% of the company's stock.
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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