Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s stock price shot up 13.6% during trading on Wednesday . The company traded as high as $6.83 and last traded at $6.75. 5,380,336 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 16,612,497 shares. The stock had previously closed at $5.94.
Quantum Computing Stock Performance
The stock's 50-day simple moving average is $6.80 and its 200 day simple moving average is $7.53. The company has a market capitalization of $978.56 million, a PE ratio of -24.59 and a beta of 3.00.
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 the consensus estimate of ($0.05) by ($0.42). The company had revenue of $0.06 million during the quarter, compared to analysts' expectations of $0.20 million. During the same quarter in the previous year, the business earned ($0.09) earnings per share.
Insider Transactions at Quantum Computing
In related 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 transaction, the insider now directly 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 31.10% of the company's stock.
Institutional Trading of Quantum Computing
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QUBT. Rhumbline Advisers purchased a new position in shares of Quantum Computing in the 1st quarter valued at $28,000. Tower Research Capital LLC TRC acquired a new position in Quantum Computing in the fourth quarter valued at $30,000. Archer Investment Corp purchased a new position in shares of Quantum Computing during the fourth quarter worth about $33,000. IFP Advisors Inc acquired a new stake in shares of Quantum Computing during the fourth quarter worth about $33,000. Finally, Farther Finance Advisors LLC acquired a new stake in shares of Quantum Computing during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 4.26% of the company's stock.
Quantum Computing Company Profile
(
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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