Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s share price rose 1.7% on Thursday . The company traded as high as $7.04 and last traded at $6.97. Approximately 3,924,744 shares traded hands during trading, a decline of 76% from the average daily volume of 16,365,510 shares. The stock had previously closed at $6.85.
Quantum Computing Stock Performance
The company has a market cap of $959.34 million, a price-to-earnings ratio of -24.10 and a beta of 3.00. The business has a fifty day moving average price of $7.20 and a 200 day moving average price of $7.17.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.47) earnings per share 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 the consensus estimate of $0.20 million. During the same quarter last year, the company posted ($0.09) earnings per share.
Insider Activity
In related news, insider Yuping Huang sold 200,000 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 24,051,256 shares of the company's stock, valued at approximately $203,954,650.88. This trade represents a 0.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 31.10% of the company's stock.
Institutional Investors Weigh In On Quantum Computing
A number of institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers purchased a new position in Quantum Computing in the first quarter valued at about $28,000. Tower Research Capital LLC TRC purchased a new position in shares of Quantum Computing during the 4th quarter valued at $30,000. Archer Investment Corp bought a new position in Quantum Computing in the 4th quarter worth about $33,000. IFP Advisors Inc purchased a new stake in shares of Quantum Computing in the 4th quarter valued at about $33,000. Finally, Farther Finance Advisors LLC purchased a new position in shares of Quantum Computing during the fourth quarter worth about $33,000. 4.26% of the stock is owned by institutional investors.
Quantum Computing Company Profile
(
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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