Quantum Computing (NASDAQ:QUBT) Stock Price Down 0.4% – Here’s What Happened

Quantum Computing Inc. (NASDAQ:QUBT) shares fell 0.4% on Tuesday . The company traded as low as $9.61 and last traded at $9.91. 12,357,865 shares were traded during trading, a decline of 66% from the average session volume of 36,539,250 shares. The stock had previously closed at $9.95.

Wall Street Analyst Weigh In

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

Quantum Computing Trading Down 1.4 %

The company has a market capitalization of $1.27 billion, a PE ratio of -33.86 and a beta of 2.75. The company has a fifty day simple moving average of $11.72 and a 200-day simple moving average of $4.84.

Quantum Computing (NASDAQ:QUBT) last issued its earnings results on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter. The business had revenue of $0.10 million for the quarter.

Institutional Investors Weigh In On Quantum Computing

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in shares of Quantum Computing in the fourth quarter valued at $626,000. Virtu Financial LLC grew its holdings in shares of Quantum Computing by 377.7% during the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after purchasing an additional 47,880 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Quantum Computing during the third quarter worth about $46,000. Heck Capital Advisors LLC acquired a new stake in shares of Quantum Computing during the fourth quarter worth about $1,255,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Quantum Computing by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after purchasing an additional 65,486 shares during the last quarter. 4.26% of the stock is owned by hedge funds and other 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.