Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares fell 1.8% during mid-day trading on Friday . The stock traded as low as $9.40 and last traded at $9.73. 15,268,598 shares traded hands during trading, a decline of 57% from the average session volume of 35,817,813 shares. The stock had previously closed at $9.91.
Analyst Upgrades and Downgrades
Separately, Ascendiant Capital Markets raised 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.
Check Out Our Latest Stock Analysis on QUBT
Quantum Computing Trading Down 9.4 %
The business's fifty day moving average price is $9.26 and its 200 day moving average price is $3.67. The company has a market capitalization of $1.16 billion, a P/E ratio of -30.97 and a beta of 2.83.
Institutional Investors Weigh In On Quantum Computing
Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC lifted its position in shares of Quantum Computing by 377.7% during the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock worth $40,000 after buying an additional 47,880 shares during the period. XTX Topco Ltd acquired a new position in Quantum Computing during the third quarter worth $46,000. Finally, Geode Capital Management LLC lifted 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 during the period. 4.26% of the stock is owned by institutional investors and hedge funds.
About Quantum Computing
(
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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.
Further Reading
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