Quantum Computing (NASDAQ:QUBT) Shares Gap Down – Here’s Why

Quantum Computing Inc. (NASDAQ:QUBT)’s share price gapped down prior to trading on Friday . The stock had previously closed at $7.94, but opened at $7.73. Quantum Computing shares last traded at $7.38, with a volume of 3,507,982 shares changing hands.

Quantum Computing Price Performance

The company’s 50-day moving average price is $8.01 and its 200-day moving average price is $6.64. The company has a market cap of $1.16 billion, a P/E ratio of -29.14 and a beta of 3.26.

Quantum Computing (NASDAQ:QUBT) last released its earnings results 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 business had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $0.20 million. During the same period in the previous year, the business posted ($0.09) EPS.

Insider Buying and Selling at Quantum Computing

In other news, insider Yuping Huang sold 200,000 shares of the business’s stock in a transaction on 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 sale, the insider now owns 24,051,256 shares of the company’s stock, valued at $203,954,650.88. The trade was a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 31.10% of the company’s stock.

Institutional Investors Weigh In On Quantum Computing

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QUBT. Wealth Enhancement Advisory Services LLC bought a new position in shares of Quantum Computing in the 4th quarter valued at about $166,000. Heck Capital Advisors LLC bought a new position in Quantum Computing in the fourth quarter valued at approximately $1,255,000. Two Sigma Investments LP acquired a new position in shares of Quantum Computing during the 4th quarter worth approximately $657,000. Toronto Dominion Bank bought a new stake in shares of Quantum Computing during the 4th quarter worth approximately $3,509,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Quantum Computing in the 4th quarter valued at approximately $319,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

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.