Quantum Computing (NASDAQ:QUBT) Trading 5.8% Higher – Should You Buy?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price traded up 5.8% during trading on Thursday . The stock traded as high as $1.13 and last traded at $1.10. 1,871,011 shares traded hands during mid-day trading, an increase of 68% from the average session volume of 1,116,255 shares. The stock had previously closed at $1.04.

Quantum Computing Stock Up 5.8 %

The stock has a market capitalization of $100.49 million, a price-to-earnings ratio of -3.55 and a beta of 1.74. The stock has a 50 day moving average price of $0.71 and a 200 day moving average price of $0.70.

Quantum Computing (NASDAQ:QUBT) last posted its earnings results on Wednesday, October 2nd. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $0.18 million for the quarter.

Institutional Trading of Quantum Computing

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC grew its position in shares of Quantum Computing by 17.7% in the 1st quarter. Virtu Financial LLC now owns 95,425 shares of the company’s stock valued at $94,000 after buying an additional 14,326 shares during the last quarter. Independence Bank of Kentucky acquired a new position in shares of Quantum Computing in the first quarter worth approximately $25,000. TRUE Private Wealth Advisors lifted its stake in shares of Quantum Computing by 318.1% in the second quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock worth $33,000 after acquiring an additional 50,000 shares during the period. Finally, PEAK6 Investments LLC bought a new stake in Quantum Computing in the first quarter valued at approximately $129,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

About Quantum Computing

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.