Quantum Computing (NASDAQ:QUBT) Trading Down 2.8% – What’s Next?

Quantum Computing Inc. (NASDAQ:QUBT) dropped 2.8% on Thursday . The company traded as low as $4.86 and last traded at $5.13. Approximately 3,785,898 shares were traded during trading, a decline of 85% from the average daily volume of 25,291,549 shares. The stock had previously closed at $5.28.

Analyst Ratings Changes

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

Quantum Computing Stock Performance

The company has a 50 day moving average of $10.07 and a two-hundred day moving average of $5.88. The stock has a market capitalization of $690.00 million, a PE ratio of -17.34 and a beta of 3.26.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in QUBT. Tower Research Capital LLC TRC purchased a new position in Quantum Computing during the 4th quarter worth $30,000. Archer Investment Corp acquired a new position in shares of Quantum Computing in the 4th quarter valued at about $33,000. IFP Advisors Inc acquired a new position in shares of Quantum Computing in the 4th quarter valued at about $33,000. Farther Finance Advisors LLC acquired a new position in shares of Quantum Computing in the 4th quarter valued at about $33,000. Finally, Virtu Financial LLC lifted its holdings in shares of 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 period. 4.26% of the stock is currently 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.