Quantum Computing (NASDAQ:QUBT) Shares Gap Down - Here's What Happened

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $8.01, but opened at $7.70. Quantum Computing shares last traded at $7.64, with a volume of 2,323,785 shares.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets increased their price target on Quantum Computing from $8.50 to $14.00 and gave the company a "buy" rating in a research note on Monday, April 28th.

Quantum Computing Price Performance

The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -25.26 and a beta of 3.74. The business has a fifty day moving average of $6.78 and a 200-day moving average of $7.80.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its 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 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 firm earned ($0.09) EPS.

Insider Activity at Quantum Computing

In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of the business's 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 $203,954,650.88. The trade was a 0.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 31.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Private Advisor Group LLC acquired a new stake in Quantum Computing during the 1st quarter worth about $100,000. Hussman Strategic Advisors Inc. purchased a new position in Quantum Computing during the first quarter valued at approximately $840,000. Hollencrest Capital Management increased its stake in Quantum Computing by 60.0% in the 1st quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock valued at $32,000 after buying an additional 1,500 shares during the period. Victory Capital Management Inc. lifted its position in Quantum Computing by 1,896.4% in the 1st quarter. Victory Capital Management Inc. now owns 228,912 shares of the company's stock worth $1,831,000 after buying an additional 217,446 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Quantum Computing by 22.2% during the 1st quarter. SBI Securities Co. Ltd. now owns 118,276 shares of the company's stock valued at $946,000 after buying an additional 21,478 shares during the period. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.