Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s stock price was down 3.3% during trading on Tuesday . The stock traded as low as $8.66 and last traded at $8.80. Approximately 5,711,849 shares were traded during trading, a decline of 67% from the average daily volume of 17,190,748 shares. The stock had previously closed at $9.10.
Wall Street Analysts Forecast Growth
Separately, Ascendiant Capital Markets boosted their price objective on shares of Quantum Computing from $8.50 to $14.00 and gave the company a "buy" rating in a research note on Monday, April 28th.
Check Out Our Latest Stock Analysis on Quantum Computing
Quantum Computing Price Performance
The company has a market cap of $1.23 billion, a PE ratio of -31.03 and a beta of 3.74. The firm's 50 day moving average is $7.19 and its 200 day moving average is $8.10.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last released 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 business had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.20 million. During the same period in the previous year, the company posted ($0.09) earnings per share.
Insiders Place Their Bets
In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 31.10% of the company's stock.
Institutional Investors Weigh In On Quantum Computing
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Quantum Computing by 24.0% in the 1st quarter. Vanguard Group Inc. now owns 5,191,404 shares of the company's stock worth $41,531,000 after acquiring an additional 1,004,675 shares during the last quarter. Anson Funds Management LP bought a new position in Quantum Computing in the 4th quarter worth $70,006,000. Alyeska Investment Group L.P. purchased a new stake in shares of Quantum Computing in the 4th quarter worth about $69,613,000. Rockefeller Capital Management L.P. purchased a new stake in shares of Quantum Computing in the 4th quarter worth about $13,953,000. Finally, Geode Capital Management LLC grew 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 last quarter. 4.26% of the stock is currently owned by institutional investors.
About Quantum Computing
(
Get Free Report)
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.
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