Quantum Computing (NASDAQ:QUBT) Sees Unusually-High Trading Volume – What’s Next?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) saw unusually-high trading volume on Wednesday . Approximately 9,843,082 shares traded hands during mid-day trading, an increase of 57% from the previous session’s volume of 6,260,383 shares.The stock last traded at $6.28 and had previously closed at $7.62.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets raised their price objective on shares of Quantum Computing from $8.25 to $8.50 and gave the company a “buy” rating in a research report on Wednesday, November 13th.

Quantum Computing Stock Down 0.6 %

The firm’s 50 day moving average is $3.11 and its 200-day moving average is $1.50.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings results on Wednesday, October 2nd. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $0.18 million during the quarter.

Institutional Investors Weigh In On Quantum Computing

A number of large investors have recently added to or reduced their stakes in QUBT. Virtu Financial LLC raised its position in shares of Quantum Computing by 377.7% in the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after purchasing an additional 47,880 shares during the period. XTX Topco Ltd acquired a new position in Quantum Computing in the 3rd quarter valued at $46,000. Finally, Geode Capital Management LLC raised its holdings in Quantum Computing by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after acquiring an additional 65,486 shares during the period. Institutional investors own 4.26% of the company’s stock.

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.