Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $14.49 and last traded at $14.16, with a volume of 36272956 shares changing hands. The stock had previously closed at $11.08.
Wall Street Analysts Forecast Growth
Separately, Ascendiant Capital Markets lifted their price objective on Quantum Computing from $8.25 to $8.50 and gave the company a "buy" rating in a research note on Wednesday, November 13th.
Read Our Latest Research Report on Quantum Computing
Quantum Computing Stock Up 51.5 %
The company's 50-day moving average is $3.44 and its 200 day moving average is $1.62. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -57.90 and a beta of 3.11.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its earnings results on Wednesday, October 2nd. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. The business had revenue of $0.18 million for the quarter.
Hedge Funds Weigh In On Quantum Computing
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of Quantum Computing by 10.5% during the third 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 in the last quarter. XTX Topco Ltd purchased a new stake in Quantum Computing during the 3rd quarter worth approximately $46,000. Finally, Virtu Financial LLC raised its holdings in shares of Quantum Computing by 377.7% during the third quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock valued at $40,000 after acquiring an additional 47,880 shares during the last quarter. 4.26% of the stock is owned by hedge funds and other institutional investors.
About Quantum Computing
(
Get Free Report)
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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