Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares traded down 20.3% during trading on Monday . The company traded as low as $6.88 and last traded at $7.16. 16,510,350 shares traded hands during trading, a decline of 53% from the average session volume of 35,120,113 shares. The stock had previously closed at $8.98.
Wall Street Analyst Weigh In
Separately, Ascendiant Capital Markets upped their target price on Quantum Computing from $8.25 to $8.50 and gave the company a "buy" rating in a research report on Wednesday, November 13th.
Read Our Latest Stock Analysis on QUBT
Quantum Computing Stock Performance
The firm's 50 day moving average price is $9.66 and its two-hundred day moving average price is $3.86. The company has a market cap of $1.49 billion, a P/E ratio of -39.83 and a beta of 2.83.
Institutional Trading of Quantum Computing
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC grew its stake in Quantum Computing by 377.7% in 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 period. XTX Topco Ltd acquired a new stake in Quantum Computing in the 3rd quarter valued at $46,000. Geode Capital Management LLC increased 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 valued at $449,000 after purchasing an additional 65,486 shares in the last quarter. Finally, Sovereign Financial Group Inc. bought a new position in shares of Quantum Computing in the fourth quarter valued at $209,000. 4.26% of the stock is owned by 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.
Further Reading
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