Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) saw strong trading volume on Wednesday . 63,849,054 shares changed hands during mid-day trading, an increase of 716% from the previous session's volume of 7,826,271 shares.The stock last traded at $22.56 and had previously closed at $16.79.
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 stock a "buy" rating in a research report on Wednesday, November 13th.
View Our Latest Stock Analysis on QUBT
Quantum Computing Price Performance
The stock has a market cap of $2.62 billion, a PE ratio of -88.55 and a beta of 3.11. The stock's fifty day moving average is $3.76 and its 200-day moving average is $1.74.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its earnings results on Wednesday, October 2nd. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The firm had revenue of $0.18 million during the quarter.
Hedge Funds Weigh In On Quantum Computing
Large investors have recently modified their holdings of the business. XTX Topco Ltd purchased a new stake in Quantum Computing in the 3rd quarter valued at about $46,000. Geode Capital Management LLC boosted its stake in 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 buying an additional 65,486 shares during the period. Finally, Virtu Financial LLC increased its position 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. Institutional investors and hedge funds own 4.26% of the company's stock.
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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