Quantum Computing Inc (NASDAQ: QUBT) In 2024: Reward Or Shame To Investors?

In the last trading session, 1.17 million shares of the Quantum Computing Inc (NASDAQ:QUBT) were traded, and its beta was 1.46. Most recently the company’s share price was $0.99, and it changed around -$0.01 or -1.25% from the last close, which brings the market valuation of the company to $74.16M. QUBT currently trades at a discount to its 52-week high of $1.81, offering almost -82.83% off that amount. The share price’s 52-week low was $0.63, which indicates that the current value has risen by an impressive 36.36% since then. We note from Quantum Computing Inc’s average daily trading volume that its 10-day average is 1.84 million shares, with the 3-month average coming to 1.60 million.

Quantum Computing Inc (NASDAQ:QUBT) trade information

Instantly QUBT has showed a red trend with a performance of -1.25% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 8.15% year-to-date, but still down -11.83% over the last five days. On the other hand, Quantum Computing Inc (NASDAQ:QUBT) is 15.85% up in the 30-day period. We can see from the shorts that 3.38 million shares have been sold at a short interest cover period of 1.44 day(s).

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Quantum Computing Inc (QUBT) estimates and forecasts

The year-over-year growth rate is expected to be 196.30%, up from the previous year.

Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $100k in revenue for the current quarter. 1 analysts expect Quantum Computing Inc to make $200k in revenue for the quarter ending Mar 2024. The company’s sales for the same quarters a year ago were $2k and $120k respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 4,900.00%. Forecasts for the next quarter put sales growth at 66.70%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 29.63%.

QUBT Dividends

Quantum Computing Inc’s next quarterly earnings report is expected to be released around March 25 and March 29.

Quantum Computing Inc (NASDAQ:QUBT)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 37.67% of Quantum Computing Inc shares, and 4.29% of them are in the hands of institutional investors. The stock currently has a share float of 6.88%. Quantum Computing Inc stock is held by 46 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 4.15% of the shares, which is about 1.21 million shares worth $1.42 million.

Blackrock Inc., with 1.31% or 0.38 million shares worth $0.45 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 0.88 million shares worth $1.04 million, making up 3.03% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 0.3 million shares worth around $0.36 million, which represents about 1.04% of the total shares outstanding.