Quantum Computing (NASDAQ:QUBT) Trading 2.5% Higher – Should You Buy?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price shot up 2.5% during trading on Monday . The company traded as high as $8.30 and last traded at $8.66. 2,497,714 shares were traded during mid-day trading, a decline of 84% from the average session volume of 15,996,688 shares. The stock had previously closed at $8.45.

Quantum Computing Price Performance

The company has a 50-day moving average of $8.01 and a two-hundred day moving average of $6.68. The company has a market capitalization of $1.07 billion, a PE ratio of -26.75 and a beta of 3.26.

Quantum Computing (NASDAQ:QUBT) last posted 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 for the quarter, compared to analyst estimates of $0.20 million. During the same period in the prior year, the firm posted ($0.09) EPS.

Insiders Place Their Bets

In related news, insider Yuping Huang sold 200,000 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total transaction of $1,696,000.00. Following the completion of the sale, the insider now owns 24,051,256 shares in the company, valued at approximately $203,954,650.88. This trade represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 31.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in QUBT. UNICOM Systems Inc. bought a new position in shares of Quantum Computing during the fourth quarter worth $5,707,000. SBI Securities Co. Ltd. bought a new stake in shares of Quantum Computing in the fourth quarter worth about $1,602,000. Farther Finance Advisors LLC purchased a new stake in shares of Quantum Computing in the fourth quarter worth about $33,000. SG Americas Securities LLC purchased a new stake in shares of Quantum Computing during the 4th quarter worth approximately $626,000. Finally, Virtu Financial LLC boosted its position in shares of Quantum Computing by 377.7% during the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after acquiring an additional 47,880 shares during the last quarter. 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.