Quantum Computing (NASDAQ:QUBT) Shares Down 6.4%

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price dropped 6.4% during mid-day trading on Wednesday . The stock traded as low as $0.64 and last traded at $0.66. Approximately 752,130 shares traded hands during trading, a decline of 41% from the average daily volume of 1,270,455 shares. The stock had previously closed at $0.70.

Quantum Computing Stock Up 8.6 %

The firm has a market capitalization of $67.28 million, a PE ratio of -2.38 and a beta of 1.77. The business’s 50-day moving average price is $0.65 and its 200-day moving average price is $0.79.

Quantum Computing (NASDAQ:QUBT) last posted its earnings results on Tuesday, June 11th. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $0.03 million during the quarter.

Hedge Funds Weigh In On Quantum Computing

A number of hedge funds have recently modified their holdings of the stock. Independence Bank of Kentucky acquired a new stake in shares of Quantum Computing in the first quarter valued at approximately $25,000. PEAK6 Investments LLC bought a new position in Quantum Computing in the first quarter valued at approximately $129,000. Virtu Financial LLC boosted its stake in Quantum Computing by 17.7% in the 1st quarter. Virtu Financial LLC now owns 95,425 shares of the company’s stock worth $94,000 after purchasing an additional 14,326 shares during the period. Finally, TRUE Private Wealth Advisors grew its holdings in shares of Quantum Computing by 318.1% during the second quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock worth $33,000 after buying an additional 50,000 shares in the last quarter. 4.26% of the stock is 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.