Quantum Computing (NASDAQ:QUBT) Trading Up 1.9% – Still a Buy?

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price shot up 1.9% during trading on Friday . The stock traded as high as $7.52 and last traded at $7.53. 12,973,836 shares were traded during mid-day trading, a decline of 17% from the average session volume of 15,601,937 shares. The stock had previously closed at $7.39.

Quantum Computing Price Performance

The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -25.15 and a beta of 3.26. The company’s 50 day simple moving average is $8.13 and its 200 day simple moving average is $6.28.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.42). The company had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.20 million. During the same period in the previous year, the business posted ($0.09) earnings per share.

Institutional Investors Weigh In On Quantum Computing

A number of institutional investors and hedge funds have recently made changes to their positions in QUBT. Tower Research Capital LLC TRC purchased a new stake in shares of Quantum Computing in the fourth quarter valued at about $30,000. Archer Investment Corp purchased a new stake in shares of Quantum Computing in the fourth quarter valued at about $33,000. IFP Advisors Inc acquired a new position in shares of Quantum Computing during the fourth quarter worth about $33,000. Farther Finance Advisors LLC acquired a new position in shares of Quantum Computing during the fourth quarter worth about $33,000. Finally, Virtu Financial LLC increased its stake in shares of Quantum Computing by 377.7% during the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after acquiring an additional 47,880 shares during the period. 4.26% of the stock is owned by hedge funds and other 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.