Quantum Computing (NASDAQ:QUBT) Stock Price Up 1.7% – Still a Buy?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) traded up 1.7% during trading on Thursday . The company traded as high as $7.04 and last traded at $6.97. 3,924,744 shares were traded during mid-day trading, a decline of 76% from the average session volume of 16,365,510 shares. The stock had previously closed at $6.85.

Quantum Computing Stock Performance

The stock has a market cap of $939.30 million, a PE ratio of -23.65 and a beta of 3.00. The company’s 50-day moving average price is $7.32 and its two-hundred day moving average price is $7.04.

Quantum Computing (NASDAQ:QUBT) last issued 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 business had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.20 million. During the same quarter in the prior year, the firm earned ($0.09) EPS.

Insider Buying and Selling

In other 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 transaction, the insider now owns 24,051,256 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. 31.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Quantum Computing

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers purchased a new stake in shares of Quantum Computing during the first quarter valued at approximately $28,000. Tower Research Capital LLC TRC purchased a new stake in Quantum Computing during the 4th quarter valued at $30,000. Archer Investment Corp bought a new stake in Quantum Computing in the 4th quarter worth $33,000. IFP Advisors Inc purchased a new position in shares of Quantum Computing in the fourth quarter valued at about $33,000. Finally, Farther Finance Advisors LLC bought a new position in shares of Quantum Computing during the fourth quarter valued at about $33,000. 4.26% of the stock is currently owned by institutional investors.

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.