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

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

Quantum Computing Price Performance

The company has a market capitalization of $45.90 million, a P/E ratio of -1.62 and a beta of 1.74. The stock’s 50 day simple moving average is $0.71 and its two-hundred day simple moving average is $0.83.

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

Institutional Investors Weigh In On Quantum Computing

A number of institutional investors and hedge funds have recently modified their holdings of QUBT. Independence Bank of Kentucky bought a new stake in shares of Quantum Computing during the first quarter worth approximately $25,000. PEAK6 Investments LLC bought a new stake in shares of Quantum Computing during the first quarter worth approximately $129,000. Finally, Virtu Financial LLC raised its stake in shares of Quantum Computing by 17.7% during the first quarter. Virtu Financial LLC now owns 95,425 shares of the company’s stock worth $94,000 after buying an additional 14,326 shares during the last quarter. 4.26% of the stock is owned by institutional investors.

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.