Quantum Computing (NASDAQ:QUBT) Trading Up 9.3% – Should You Buy?

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price traded up 9.3% during trading on Tuesday . The stock traded as high as $11.20 and last traded at $10.74. 20,839,607 shares were traded during trading, a decline of 58% from the average session volume of 49,300,105 shares. The stock had previously closed at $9.83.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets raised their price target on 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 Stock Up 0.2 %

The stock has a fifty day moving average price of $10.90 and a 200-day moving average price of $4.32. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -38.34 and a beta of 2.83.

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

Institutional Trading of Quantum Computing

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC purchased a new stake in shares of Quantum Computing during the 4th quarter worth approximately $199,000. Sovereign Financial Group Inc. acquired a new stake in Quantum Computing in the fourth quarter valued at $209,000. Diversify Wealth Management LLC purchased a new position in shares of Quantum Computing in the fourth quarter valued at $331,000. Veracity Capital LLC purchased a new stake in shares of Quantum Computing in the 4th quarter worth about $343,000. Finally, SG Americas Securities LLC acquired a new stake in Quantum Computing in the 4th quarter valued at about $626,000. 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.