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

Quantum Computing Inc. (NASDAQ:QUBT)’s share price shot up 1.9% during mid-day trading on Friday . The company traded as high as $7.52 and last traded at $7.53. 12,973,836 shares traded hands during 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 business’s 50 day moving average price is $8.13 and its 200-day moving average price is $6.28. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of -25.15 and a beta of 3.26.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC acquired a new position in Quantum Computing during the fourth quarter worth about $30,000. IFP Advisors Inc acquired a new position in Quantum Computing during the fourth quarter worth about $33,000. Farther Finance Advisors LLC acquired a new position in Quantum Computing during the fourth quarter worth about $33,000. Archer Investment Corp acquired a new position in Quantum Computing during the fourth quarter worth about $33,000. Finally, Hollencrest Capital Management acquired a new position in Quantum Computing during the fourth quarter worth about $41,000. 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.