Quantum Computing (NASDAQ:QUBT) Trading Up 1.6% - Time to Buy?

Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shot up 1.6% during mid-day trading on Tuesday . The stock traded as high as $6.08 and last traded at $5.97. 1,584,925 shares changed hands during trading, a decline of 90% from the average session volume of 16,584,487 shares. The stock had previously closed at $5.87.

Quantum Computing Stock Up 2.7 %

The stock has a market capitalization of $978.56 million, a price-to-earnings ratio of -24.59 and a beta of 3.00. The stock's 50-day simple moving average is $6.80 and its 200 day simple moving average is $7.53.

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 company had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.20 million. During the same quarter in the previous year, the business posted ($0.09) EPS.

Insider Transactions at Quantum Computing

In related news, insider Yuping Huang sold 200,000 shares of Quantum Computing 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 31.10% of the company's stock.

Institutional Investors Weigh In On Quantum Computing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV bought a new stake in shares of Quantum Computing during the first quarter valued at approximately $41,000. Flagship Harbor Advisors LLC lifted its holdings in Quantum Computing by 42.5% during the 1st quarter. Flagship Harbor Advisors LLC now owns 17,100 shares of the company's stock worth $137,000 after buying an additional 5,100 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Quantum Computing by 159.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 33,724 shares of the company's stock valued at $270,000 after buying an additional 20,731 shares during the last quarter. Silverleafe Capital Partners LLC acquired a new stake in shares of Quantum Computing in the 1st quarter valued at $226,000. Finally, Focus Financial Network Inc. raised its position in shares of Quantum Computing by 104.1% during the first quarter. Focus Financial Network Inc. now owns 189,467 shares of the company's stock worth $1,516,000 after acquiring an additional 96,652 shares during the last quarter. Institutional investors and hedge funds 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.