Quantum Computing (NASDAQ:QUBT) Sees Strong Trading Volume - Still a Buy?

Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) saw an uptick in trading volume on Wednesday . 32,599,659 shares changed hands during mid-day trading, a decline of 11% from the previous session's volume of 36,618,219 shares.The stock last traded at $10.35 and had previously closed at $7.43.

Analyst Ratings Changes

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 report on Wednesday, November 13th.

Quantum Computing Trading Down 9.7 %

The stock has a market cap of $1.27 billion, a PE ratio of -33.90 and a beta of 2.83. The business has a fifty day simple moving average of $10.06 and a two-hundred day simple moving average of $3.97.

Institutional Investors Weigh In On Quantum Computing

Hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC lifted 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 purchasing an additional 47,880 shares during the last quarter. XTX Topco Ltd purchased a new position in Quantum Computing during the third quarter valued at $46,000. Sovereign Financial Group Inc. bought a new stake in Quantum Computing in the fourth quarter worth $209,000. Diversify Wealth Management LLC purchased a new stake in shares of Quantum Computing in the fourth quarter worth $331,000. Finally, Geode Capital Management LLC increased its holdings 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 valued at $449,000 after acquiring an additional 65,486 shares in the last quarter. Hedge funds and other institutional investors own 4.26% of the company's stock.

About Quantum Computing

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.