Quantum Computing (NASDAQ:QUBT) Trading Down 20.3% – What’s Next?

Quantum Computing Inc. (NASDAQ:QUBT) traded down 20.3% on Monday . The stock traded as low as $6.88 and last traded at $7.16. 16,510,350 shares traded hands during trading, a decline of 53% from the average session volume of 35,120,113 shares. The stock had previously closed at $8.98.

Wall Street Analyst Weigh In

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

Quantum Computing Stock Down 26.3 %

The firm’s fifty day moving average is $9.42 and its 200-day moving average is $3.77. The stock has a market capitalization of $853.73 million, a PE ratio of -22.83 and a beta of 2.83.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd acquired a new stake in Quantum Computing in the third quarter valued at $46,000. Geode Capital Management LLC increased its holdings in Quantum Computing by 10.5% in the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after buying an additional 65,486 shares in the last quarter. Finally, Virtu Financial LLC boosted its stake in shares of Quantum Computing by 377.7% during the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after acquiring an additional 47,880 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.