Geode Capital Management LLC Has $449,000 Position in Quantum Computing Inc. (NASDAQ:QUBT)

Geode Capital Management LLC boosted its position in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) by 10.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 687,208 shares of the company's stock after buying an additional 65,486 shares during the period. Geode Capital Management LLC owned approximately 0.69% of Quantum Computing worth $449,000 at the end of the most recent quarter.

Separately, XTX Topco Ltd acquired a new position in Quantum Computing during the third quarter worth about $46,000. 4.26% of the stock is owned by institutional investors.

Quantum Computing Price Performance

Shares of Quantum Computing stock traded down $2.46 during trading on Monday, hitting $6.52. The company's stock had a trading volume of 36,358,040 shares, compared to its average volume of 38,259,410. The stock has a market cap of $840.83 million, a price-to-earnings ratio of -22.48 and a beta of 2.83. Quantum Computing Inc. has a 52 week low of $0.35 and a 52 week high of $27.15. The stock has a 50-day moving average price of $9.42 and a two-hundred day moving average price of $3.77.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets upped their price objective on shares of 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 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.