Quantum Computing (NASDAQ:QUBT) Shares Gap Down – Time to Sell?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price gapped down prior to trading on Friday . The stock had previously closed at $18.75, but opened at $17.99. Quantum Computing shares last traded at $18.63, with a volume of 4,043,892 shares trading hands.

Wall Street Analyst Weigh In

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

Quantum Computing Stock Down 5.9 %

The stock has a market capitalization of $2.28 billion, a P/E ratio of -60.86 and a beta of 3.07. The stock has a 50 day simple moving average of $7.92 and a two-hundred day simple moving average of $3.19.

Quantum Computing (NASDAQ:QUBT) last released its earnings results on Wednesday, October 2nd. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The firm had revenue of $0.18 million during the quarter.

Institutional Investors Weigh In On Quantum Computing

Institutional investors and hedge funds have recently modified their holdings of the company. XTX Topco Ltd acquired a new position in shares of Quantum Computing during the 3rd quarter worth approximately $46,000. Geode Capital Management LLC boosted its position in Quantum Computing by 10.5% during the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after purchasing an additional 65,486 shares during the period. Finally, Virtu Financial LLC increased its holdings 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 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.