Quantum Computing (NASDAQ:QUBT) Reports Earnings Results, Falls Short of Estimates

On Thursday, Quantum Computing (NASDAQ:QUBT - Get Free Report) announced its earnings results for the recent quarter. The company recorded an earnings per share (EPS) of ($0.47), which is significantly lower than the analysts' consensus estimate of ($0.05), missing the estimate by $0.42. This is a noticeable decline compared to the same quarter last year when the company reported ($0.09) earnings per share.

Quantum Computing Stock Performance

Following the earnings report, shares of Quantum Computing decreased by 11.7% on Thursday, dropping by $0.98 to a trading price of $7.39. The trading volume reached approximately 35,124,269 shares, which is higher than the average volume of 15,548,500 shares. The company has a market capitalization of $1.01 billion and is currently trading with a price-to-earnings (P/E) ratio of -25.48. Additionally, the stock has a beta of 3.26, indicating high volatility. The fifty-day moving average stands at $8.19, while the 200-day moving average is $6.27. Over the past year, Quantum Computing's stock hit a low of $0.35 and a high of $27.15.

About Quantum Computing

Quantum Computing Inc is an integrated photonics company focused on making quantum machines accessible and affordable. Their products include the Dirac systems, characterized by being portable, low power, and capable of operating at room temperature. The company also offers quantum computers that utilize qubits and qudits, as well as solutions in reservoir computing, remote sensing, and single photon imaging.

In addition to these technologies, Quantum Computing provides a quantum random number generator (uQRNG), a device that achieves genuine randomness based on quantum processes. They also offer quantum authentication services, designed to address vulnerabilities in classical cryptographic systems by leveraging entanglement-based solutions integrated into existing telecommunications infrastructure.

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