Quantum Computing (NASDAQ:QUBT) Shares Gap Up – Here’s What Happened

Quantum Computing Inc. (NASDAQ:QUBT) gapped up before the market opened on Monday . The stock had previously closed at $7.39, but opened at $7.75. Quantum Computing shares last traded at $8.09, with a volume of 4,301,773 shares traded.

Quantum Computing Price Performance

The business has a 50-day simple moving average of $8.10 and a two-hundred day simple moving average of $6.41. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -28.62 and a beta of 3.26.

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 business had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $0.20 million. During the same quarter in the previous year, the business posted ($0.09) earnings per share.

Institutional Investors Weigh In On Quantum Computing

A number of institutional investors have recently made changes to their positions in the company. Alyeska Investment Group L.P. bought a new stake in shares of Quantum Computing during the fourth quarter worth approximately $69,613,000. Anson Funds Management LP bought a new stake in shares of Quantum Computing during the fourth quarter worth approximately $70,006,000. Vanguard Group Inc. boosted its holdings in shares of Quantum Computing by 83.6% during the fourth quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company’s stock worth $69,290,000 after acquiring an additional 1,906,749 shares during the period. Rockefeller Capital Management L.P. bought a new stake in shares of Quantum Computing during the fourth quarter worth approximately $13,953,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Quantum Computing by 11.0% during the fourth quarter. Geode Capital Management LLC now owns 762,588 shares of the company’s stock worth $12,627,000 after acquiring an additional 75,380 shares during the period. Institutional investors own 4.26% of the company’s stock.

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.