Quantum Computing Inc. (NASDAQ:QUBT – Get Free Report) shares fell 6.3% during trading on Friday . The company traded as low as $9.80 and last traded at $10.19. 20,506,609 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 49,867,602 shares. The stock had previously closed at $10.88.
Wall Street Analyst Weigh In
Separately, Ascendiant Capital Markets upped their price objective on Quantum Computing from $8.25 to $8.50 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.
Quantum Computing Trading Down 11.0 %
Institutional Trading of Quantum Computing
A number of hedge funds and other institutional investors have recently modified their holdings of QUBT. Sovereign Financial Group Inc. acquired a new stake in Quantum Computing in the 4th quarter valued at approximately $209,000. Diversify Wealth Management LLC acquired a new stake in shares of Quantum Computing in the fourth quarter valued at $331,000. Virtu Financial LLC raised 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. XTX Topco Ltd acquired a new position in Quantum Computing during the 3rd quarter worth about $46,000. Finally, Geode Capital Management LLC boosted its holdings in Quantum Computing by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after acquiring an additional 65,486 shares during the period. 4.26% of the stock is owned by institutional investors and hedge funds.
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.
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