Quantum Computing (NASDAQ:QUBT) Sees Unusually-High Trading Volume – Should You Buy?

Quantum Computing Inc. (NASDAQ:QUBT) saw an uptick in trading volume on Monday . 26,022,615 shares were traded during trading, an increase of 443% from the previous session’s volume of 4,789,985 shares.The stock last traded at $7.64 and had previously closed at $6.10.

Wall Street Analysts Forecast Growth

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

Quantum Computing Trading Down 13.6 %

The stock’s fifty day simple moving average is $1.49 and its 200 day simple moving average is $0.95.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings data on Wednesday, October 2nd. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $0.18 million during the quarter.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC raised its stake in Quantum Computing by 377.7% during the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after acquiring an additional 47,880 shares during the period. TRUE Private Wealth Advisors boosted its position in shares of Quantum Computing by 318.1% in the second quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock worth $33,000 after purchasing an additional 50,000 shares during the period. XTX Topco Ltd purchased a new stake in shares of Quantum Computing in the third quarter worth $46,000. PEAK6 Investments LLC bought a new stake in Quantum Computing during the first quarter valued at about $129,000. Finally, Geode Capital Management LLC lifted 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 purchasing an additional 65,486 shares in the last quarter. 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.