Quantum Computing (NASDAQ:QUBT) Shares Gap Down - Here's Why

Shares of Quantum Computing Inc. (NASDAQ:QUBT) experienced a notable decline before the trading session commenced on Friday. The stock, which closed at $7.94 on the previous day, opened lower at $7.73. The latest trading price for Quantum Computing shares stood at $7.38, with significant trading volume of 3,507,982 shares.

Quantum Computing Trading Down 2.8%

The stock has seen a decrease of 2.8%. Its 50-day moving average is $8.04, while the 200-day moving average sits at $6.54. Quantum Computing holds a market capitalization of $1.06 billion, with a price-to-earnings ratio of -26.61 and a beta value of 3.26, indicating higher volatility compared to the overall market.

Recently, Quantum Computing reported its quarterly earnings results on March 20th. During this period, the company reported an earnings per share (EPS) of ($0.47), which missed analysts’ consensus estimate of ($0.05) by a substantial margin of ($0.42). Additionally, the reported revenue for the quarter was $0.06 million, falling short of the expected $0.20 million. In comparison to the same quarter from the previous year, where the EPS was ($0.09), the current results show a significant downturn.

Insider Buying and Selling

In recent company news, insider Yuping Huang sold 200,000 shares on March 25th at an average price of $8.48, totaling approximately $1.7 million. This transaction led to a 0.82% reduction in their holdings, which now comprises 24,051,256 shares currently valued at around $203.95 million. Notably, 31.10% of Quantum Computing's stock is owned by company insiders, reflecting a strong insider presence in the company's equity.

Institutional Investors Weigh In On Quantum Computing

Recent actions by institutional investors have impacted Quantum Computing's stock. XTX Topco Ltd has recently acquired a new stake valued at $46,000. Geode Capital Management LLC increased its investment by 10.5% during the third quarter and now holds 687,208 shares worth $449,000 after acquiring an additional 65,486 shares. Furthermore, Virtu Financial LLC enhanced its investment by a staggering 377.7%, now controlling 60,557 shares valued at $40,000 after adding 47,880 shares in the last quarter. Other investors, including Sovereign Financial Group Inc. and Diversify Wealth Management LLC, have also taken new positions, adding to the total institutional ownership of 4.26% in Quantum Computing.

Quantum Computing Company Profile

Quantum Computing Inc. is transforming the industry landscape.

Quantum Computing Inc. is a leader in integrated photonics, focusing on making quantum machines accessible and affordable. Their offerings include portable low-power quantum computers known as Dirac systems, quantum random number generators, and advanced authentication solutions designed to secure communication systems by utilizing quantum processes.

Future Considerations

Investors are advised to thoughtfully consider their options regarding Quantum Computing Inc. As investment analytics evolve, many analysts are suggesting there may be more appealing opportunities elsewhere. While Quantum Computing currently holds a Buy rating, several high-ranking analysts advocate for alternative stocks that may promise better returns in the future.

Quantum, Computing, Stocks