Quantum Computing (NASDAQ:QUBT) Shares Gap Down - Time to Sell?

Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $8.02, but opened at $7.50. Quantum Computing shares last traded at $8.22, with a volume of 14,148,923 shares trading hands.

Quantum Computing Stock Performance

The company's 50-day moving average is $8.10 and its 200 day moving average is $6.37. The firm has a market cap of $1.01 billion, a PE ratio of -25.48 and a beta of 3.26.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last released its earnings results on Thursday, March 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.42). The firm had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.20 million. During the same period in the prior year, the firm earned ($0.09) EPS.

Hedge Funds Weigh In On Quantum Computing

Several institutional investors and hedge funds have recently bought and sold shares of QUBT. Tower Research Capital LLC TRC purchased a new stake in shares of Quantum Computing in the fourth quarter worth approximately $30,000. Archer Investment Corp purchased a new stake in Quantum Computing in the 4th quarter worth approximately $33,000. IFP Advisors Inc purchased a new stake in Quantum Computing in the 4th quarter worth approximately $33,000. Farther Finance Advisors LLC acquired a new stake in shares of Quantum Computing during the 4th quarter valued at $33,000. Finally, Virtu Financial LLC grew its holdings 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 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.