Quantum Computing (NASDAQ:QUBT) Shares Gap Down – Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $25.68, but opened at $22.00. Quantum Computing shares last traded at $18.84, with a volume of 26,964,077 shares.

Wall Street Analyst Weigh In

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 report on Wednesday, November 13th.

Quantum Computing Stock Up 16.4 %

The firm’s 50-day moving average price is $4.55 and its 200 day moving average price is $2.00. The firm has a market cap of $2.10 billion, a P/E ratio of -60.76 and a beta of 3.11.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings results on Wednesday, October 2nd. The company reported ($0.06) EPS 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 Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC raised its stake 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 valued at $40,000 after purchasing an additional 47,880 shares in the last quarter. XTX Topco Ltd acquired a new position in Quantum Computing during the 3rd quarter valued at about $46,000. Finally, Geode Capital Management LLC raised its position in shares of Quantum Computing by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after buying an additional 65,486 shares in the last quarter. Institutional investors and hedge funds 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.