Quantum Computing (NASDAQ:QUBT) Shares Gap Up – Time to Buy?

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $8.00, but opened at $8.20. Quantum Computing shares last traded at $7.67, with a volume of 5,051,680 shares traded.

Quantum Computing Trading Up 1.2 %

The company has a market cap of $1.08 billion, a price-to-earnings ratio of -27.07 and a beta of 2.99. The stock’s 50 day moving average price is $7.84 and its 200 day moving average price is $6.79.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate 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 last year, the business earned ($0.09) earnings per share.

Insider Buying and Selling

In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of the company’s 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 directly owns 24,051,256 shares in the company, valued at $203,954,650.88. This represents a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 31.10% of the company’s stock.

Institutional Trading of Quantum Computing

Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new position in Quantum Computing during the fourth quarter valued at approximately $30,000. Archer Investment Corp purchased a new position in shares of Quantum Computing in the 4th quarter valued at $33,000. IFP Advisors Inc acquired a new position in shares of Quantum Computing during the 4th quarter valued at $33,000. Farther Finance Advisors LLC purchased a new stake in Quantum Computing during the 4th quarter worth $33,000. Finally, Virtu Financial LLC increased its holdings in Quantum Computing by 377.7% in the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after purchasing an additional 47,880 shares in the last quarter. Hedge funds and other institutional investors own 4.26% of the company’s stock.

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.