Quantum Computing (NASDAQ:QUBT) Shares Up 2.5% – What’s Next?

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

Quantum Computing Stock Down 3.0 %

The company has a market cap of $1.07 billion, a price-to-earnings ratio of -26.76 and a beta of 3.26. The firm’s 50 day simple moving average is $7.90 and its 200 day simple moving average is $6.78.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data 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 posted ($0.09) EPS.

Insider Transactions 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 31.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Alyeska Investment Group L.P. acquired a new stake in Quantum Computing in the 4th quarter valued at about $69,613,000. Anson Funds Management LP acquired a new stake in Quantum Computing during the fourth quarter valued at approximately $70,006,000. Vanguard Group Inc. lifted its stake in Quantum Computing by 83.6% during the fourth quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company’s stock valued at $69,290,000 after purchasing an additional 1,906,749 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in Quantum Computing during the fourth quarter worth approximately $13,953,000. Finally, CIBC Private Wealth Group LLC acquired a new position in Quantum Computing in the fourth quarter worth approximately $11,750,000. Institutional investors own 4.26% of the company’s stock.

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.