Quantum Computing (NASDAQ:QUBT) Shares Gap Up – Time to Buy?

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $6.52, but opened at $7.15. Quantum Computing shares last traded at $7.80, with a volume of 9,195,541 shares changing hands.

Wall Street Analyst Weigh In

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

Quantum Computing Trading Up 55.5 %

The company’s fifty day moving average price is $9.86 and its two-hundred day moving average price is $3.92.

Hedge Funds Weigh In On Quantum Computing

Hedge funds have recently made changes to their positions in the stock. Sovereign Financial Group Inc. purchased a new position in shares of Quantum Computing in the 4th quarter worth $209,000. Virtu Financial LLC increased its stake in Quantum Computing by 377.7% during the third 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 last quarter. Geode Capital Management LLC raised its holdings in shares of 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 during the period. Finally, XTX Topco Ltd acquired a new position in shares of Quantum Computing in the 3rd quarter valued at about $46,000. 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.