Quantum Computing (NASDAQ:QUBT) Trading Down 3.9% – Time to Sell?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price fell 3.9% during trading on Friday . The company 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 Trading Up 0.4 %

The stock has a market cap of $943.56 million, a price-to-earnings ratio of -23.49 and a beta of 3.00. The firm’s 50 day moving average is $7.26 and its two-hundred day moving average is $7.08.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the firm earned ($0.09) earnings per share.

Insider Transactions at Quantum Computing

In related news, insider Yuping Huang sold 200,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 24,051,256 shares in the company, valued at approximately $203,954,650.88. The trade was a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 31.10% of the company’s stock.

Institutional Trading of Quantum Computing

Institutional investors have recently made changes to their positions in the stock. UNICOM Systems Inc. purchased a new position in shares of Quantum Computing in the 4th quarter worth $5,707,000. SBI Securities Co. Ltd. acquired a new position in shares of Quantum Computing in the 4th quarter valued at about $1,602,000. Farther Finance Advisors LLC purchased a new stake in shares of Quantum Computing during the 4th quarter worth about $33,000. SG Americas Securities LLC acquired a new stake in Quantum Computing during the 4th quarter worth approximately $626,000. Finally, Virtu Financial LLC raised its holdings in Quantum Computing by 377.7% in the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after buying an additional 47,880 shares during the period. 4.26% of the stock is owned by hedge funds and other institutional investors.

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.