Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) traded down 19.9% during trading on Wednesday . The company traded as low as $5.83 and last traded at $6.10. 21,290,257 shares changed hands during trading, an increase of 238% from the average session volume of 6,303,003 shares. The stock had previously closed at $7.62.
Wall Street Analysts Forecast Growth
Separately, Ascendiant Capital Markets increased their price target on Quantum Computing from $8.25 to $8.50 and gave the stock a "buy" rating in a research report on Wednesday, November 13th.
Get Our Latest Stock Analysis on Quantum Computing
Quantum Computing Stock Performance
The stock has a market capitalization of $666.47 million, a P/E ratio of -21.03 and a beta of 3.07. The stock has a 50-day simple moving average of $2.88 and a 200 day simple moving average of $1.43.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 2nd. The company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. The firm had revenue of $0.18 million during the quarter.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in QUBT. Virtu Financial LLC raised its stake in 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. Geode Capital Management LLC raised its stake in Quantum Computing by 10.5% during the 3rd 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, XTX Topco Ltd acquired a new stake in Quantum Computing during the 3rd quarter worth $46,000. 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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Quantum Computing, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Quantum Computing wasn't on the list.
While Quantum Computing currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Unlock your free copy of MarketBeat's comprehensive guide to pot stock investing and discover which cannabis companies are poised for growth. Plus, you'll get exclusive access to our daily newsletter with expert stock recommendations from Wall Street's top analysts.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
