Quantum Computing (NASDAQ:QUBT) Shares Up 0.2% – Should You Buy?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) were up 0.2% during trading on Wednesday . The company traded as high as $8.05 and last traded at $7.78. Approximately 4,425,996 shares were traded during trading, a decline of 73% from the average daily volume of 16,095,498 shares. The stock had previously closed at $7.76.

Quantum Computing Stock Up 4.8 %

The stock’s fifty day simple moving average is $7.90 and its 200 day simple moving average is $6.78. The firm has a market capitalization of $1.12 billion, a PE ratio of -28.03 and a beta of 3.26.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The firm had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $0.20 million. During the same period last year, the business earned ($0.09) EPS.

Insiders Place Their Bets

In related news, insider Yuping Huang sold 200,000 shares of the company’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 completion of the transaction, the insider now owns 24,051,256 shares of the company’s stock, valued at approximately $203,954,650.88. This represents a 0.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 31.10% of the company’s stock.

Hedge Funds Weigh In On Quantum Computing

Several large investors have recently made changes to their positions in QUBT. Tower Research Capital LLC TRC bought a new stake in Quantum Computing during the 4th quarter valued at approximately $30,000. IFP Advisors Inc purchased a new stake in Quantum Computing during the 4th quarter valued at approximately $33,000. Farther Finance Advisors LLC bought a new stake in shares of Quantum Computing during the fourth quarter valued at approximately $33,000. Archer Investment Corp bought a new stake in shares of Quantum Computing during the fourth quarter valued at approximately $33,000. Finally, Hollencrest Capital Management purchased a new position in shares of Quantum Computing in the fourth quarter worth $41,000. 4.26% of the stock is currently owned by hedge funds and other institutional investors.

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.