Quantum Computing (NASDAQ:QUBT) Stock Price Down 20.6%

Quantum Computing Inc. (NASDAQ:QUBT) shares were down 20.6% on Friday . The company traded as low as $0.50 and last traded at $0.50. Approximately 2,025,203 shares traded hands during mid-day trading, an increase of 60% from the average daily volume of 1,263,836 shares. The stock had previously closed at $0.63.

Quantum Computing Price Performance

The firm has a market capitalization of $45.90 million, a PE ratio of -1.62 and a beta of 1.74. The business’s 50 day moving average is $0.71 and its two-hundred day moving average is $0.83.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings results on Monday, April 1st. The company reported ($0.09) EPS for the quarter. The business had revenue of $0.08 million for the quarter.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in QUBT. Independence Bank of Kentucky bought a new position in shares of Quantum Computing in the first quarter worth approximately $25,000. Virtu Financial LLC grew its holdings in shares of Quantum Computing by 17.7% in the first quarter. Virtu Financial LLC now owns 95,425 shares of the company’s stock worth $94,000 after purchasing an additional 14,326 shares during the last quarter. Finally, PEAK6 Investments LLC bought a new position in shares of Quantum Computing in the first quarter worth approximately $129,000. 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.