Quantum Computing (NASDAQ:QUBT) Trading Down 4% – Here’s What Happened

Quantum Computing Inc. (NASDAQ:QUBT)’s share price fell 4% during mid-day trading on Monday . The stock traded as low as $7.78 and last traded at $7.95. 12,497,404 shares were traded during mid-day trading, a decline of 62% from the average session volume of 32,462,944 shares. The stock had previously closed at $8.28.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets boosted their price objective on 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 Trading Up 7.9 %

The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -27.45 and a beta of 2.75. The firm’s 50 day moving average price is $12.09 and its two-hundred day moving average price is $5.46.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC acquired a new stake in Quantum Computing during the 4th quarter valued at $30,000. Archer Investment Corp bought a new position in shares of Quantum Computing in the fourth quarter valued at about $33,000. IFP Advisors Inc acquired a new stake in shares of Quantum Computing during the 4th quarter worth about $33,000. Farther Finance Advisors LLC bought a new stake in shares of Quantum Computing during the 4th quarter worth about $33,000. Finally, Virtu Financial LLC grew its stake in Quantum Computing by 377.7% in the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after buying an additional 47,880 shares during the last quarter. 4.26% of the stock is currently owned by institutional investors.

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.