Quantum Computing (NASDAQ:QUBT) Shares Down 3% – What’s Next?

Quantum Computing Inc. (NASDAQ:QUBT) traded down 3% during mid-day trading on Monday . The stock traded as low as $7.99 and last traded at $8.20. 10,477,324 shares were traded during mid-day trading, a decline of 35% from the average session volume of 16,023,934 shares. The stock had previously closed at $8.45.

Quantum Computing Stock Down 3.0 %

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

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

Insider Buying and Selling at Quantum Computing

In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $8.48, for a total transaction of $1,696,000.00. Following the sale, the insider now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 31.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Alyeska Investment Group L.P. acquired a new stake in Quantum Computing during the fourth quarter worth about $69,613,000. Anson Funds Management LP bought a new position in shares of Quantum Computing during the fourth quarter valued at approximately $70,006,000. Vanguard Group Inc. lifted its holdings in shares of Quantum Computing by 83.6% in the 4th quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company’s stock worth $69,290,000 after purchasing an additional 1,906,749 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in Quantum Computing during the 4th quarter valued at approximately $13,953,000. Finally, Geode Capital Management LLC boosted its position in Quantum Computing by 11.0% during the 4th quarter. Geode Capital Management LLC now owns 762,588 shares of the company’s stock valued at $12,627,000 after purchasing an additional 75,380 shares during the period. 4.26% of the stock is owned by institutional investors and hedge funds.

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.