Quantum Computing (NASDAQ:QUBT) Stock Price Down 3.9% – Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price fell 3.9% during trading on Friday . The stock traded as low as $6.58 and last traded at $6.58. 3,045,522 shares traded hands during mid-day 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 Stock Down 0.1 %

The company has a market cap of $938.76 million, a price-to-earnings ratio of -23.59 and a beta of 3.00. The business’s fifty day simple moving average is $7.20 and its two-hundred day simple moving average is $7.12.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings results 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 analysts’ expectations of $0.20 million. During the same period in the previous year, the business posted ($0.09) earnings per share.

Insider Activity

In other news, insider Yuping Huang sold 200,000 shares of Quantum Computing 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 transaction, the insider now directly 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 31.10% of the company’s stock.

Institutional Inflows and Outflows

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