Quantum Computing (NASDAQ:QUBT) Stock Price Down 8.6% – Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT) traded down 8.6% on Monday . The company traded as low as $5.84 and last traded at $5.86. Approximately 2,300,559 shares traded hands during trading, a decline of 86% from the average session volume of 16,631,828 shares. The stock had previously closed at $6.41.

Quantum Computing Stock Performance

The firm has a market cap of $793.28 million, a P/E ratio of -19.93 and a beta of 3.00. The stock’s 50-day moving average is $6.95 and its 200 day moving average is $7.38.

Quantum Computing (NASDAQ:QUBT) 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 firm had revenue of $0.06 million during the quarter, compared to the consensus estimate of $0.20 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share.

Insider Transactions at Quantum Computing

In other news, insider Yuping Huang sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total transaction of $1,696,000.00. Following the sale, the insider now owns 24,051,256 shares in the company, valued at $203,954,650.88. This represents a 0.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 31.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Quantum Computing

Large investors have recently bought and sold shares of the company. Silverleafe Capital Partners LLC acquired a new position in Quantum Computing in the 1st quarter valued at approximately $226,000. Focus Financial Network Inc. increased its holdings in Quantum Computing by 104.1% in the first quarter. Focus Financial Network Inc. now owns 189,467 shares of the company’s stock valued at $1,516,000 after purchasing an additional 96,652 shares during the period. SG Americas Securities LLC lifted its holdings in Quantum Computing by 65.1% during the 1st quarter. SG Americas Securities LLC now owns 62,430 shares of the company’s stock worth $499,000 after buying an additional 24,621 shares during the period. Capital Investment Advisors LLC bought a new position in shares of Quantum Computing during the first quarter worth about $84,000. Finally, Yarbrough Capital LLC bought a new stake in Quantum Computing in the first quarter valued at approximately $144,000. 4.26% of the stock is currently 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.