Quantum Computing (NASDAQ:QUBT) Shares Down 3.6% – What’s Next?

Quantum Computing Inc. (NASDAQ:QUBT) was down 3.6% on Thursday . The company traded as low as $9.52 and last traded at $9.51. Approximately 7,146,630 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 35,086,887 shares. The stock had previously closed at $9.87.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets raised their price target on shares of 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 3.0 %

The company has a 50 day moving average of $11.90 and a 200 day moving average of $4.98. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -32.00 and a beta of 2.75.

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

Institutional Trading of Quantum Computing

Several large investors have recently added to or reduced their stakes in the company. Archer Investment Corp acquired a new position in shares of Quantum Computing in the 4th quarter worth approximately $33,000. IFP Advisors Inc bought a new stake in shares of Quantum Computing during the fourth quarter worth $33,000. Virtu Financial LLC increased its stake in shares of Quantum Computing by 377.7% in the third 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 in the last quarter. XTX Topco Ltd bought a new position in shares of Quantum Computing in the third quarter valued at about $46,000. Finally, SRH Advisors LLC acquired a new position in Quantum Computing during the 4th quarter worth about $69,000. 4.26% of the stock is 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.