Quantum Computing (NASDAQ:QUBT) Trading Up 15.2% - Should You Buy?

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) was up 15.2% during mid-day trading on Friday . The company traded as high as $14.13 and last traded at $13.90. Approximately 38,083,584 shares traded hands during mid-day trading, an increase of 105% from the average daily volume of 18,544,781 shares. The stock had previously closed at $12.07.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on QUBT. Ascendiant Capital Markets increased their price objective on shares of Quantum Computing from $8.50 to $14.00 and gave the stock a "buy" rating in a research report on Monday, April 28th. Wall Street Zen raised shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

Quantum Computing Stock Down 2.3%

The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -44.83 and a beta of 3.74. The firm has a 50 day moving average of $8.04 and a 200 day moving average of $8.79.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its quarterly 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 business had revenue of $0.06 million during the quarter, compared to analysts' expectations of $0.20 million. During the same quarter last year, the firm earned ($0.09) EPS.

Insider Buying and Selling

In related news, insider Yuping Huang sold 200,000 shares of the business's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total value of $1,696,000.00. Following the completion of 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 filing with the SEC, which is available at the SEC website. Also, Director Javad Shabani sold 39,973 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $11.66, for a total value of $466,085.18. The disclosure for this sale can be found here. Insiders have sold a total of 739,973 shares of company stock valued at $8,012,085 over the last ninety days. 19.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Quantum Computing

A number of institutional investors have recently modified their holdings of QUBT. Hollencrest Capital Management grew its position 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 purchasing an additional 1,500 shares during the period. Tower Research Capital LLC TRC bought a new position in shares of Quantum Computing in the fourth quarter valued at $30,000. IFP Advisors Inc acquired a new position in shares of Quantum Computing during the fourth quarter valued at about $33,000. Farther Finance Advisors LLC bought a new stake in shares of Quantum Computing during the fourth quarter worth about $33,000. Finally, Archer Investment Corp acquired a new stake in shares of Quantum Computing in the 4th quarter worth about $33,000. 4.26% of the stock is owned by institutional investors and hedge funds.

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.