Quantum Computing (NASDAQ:QUBT) Stock Price Down 6.3% - Time to Sell?

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s stock price fell 6.3% on Friday . The company traded as low as $9.80 and last traded at $10.19. 20,506,609 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 49,867,602 shares. The stock had previously closed at $10.88.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets boosted their price objective on 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 company's 50-day moving average is $10.22 and its 200 day moving average is $4.03. The firm has a market cap of $1.27 billion, a PE ratio of -33.90 and a beta of 2.83.

Institutional Trading of Quantum Computing

Several hedge funds and other institutional investors have recently modified their holdings of QUBT. Virtu Financial LLC lifted its stake in Quantum Computing by 377.7% in the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock worth $40,000 after acquiring an additional 47,880 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Quantum Computing in the 3rd quarter valued at about $46,000. Sovereign Financial Group Inc. purchased a new stake in shares of Quantum Computing in the fourth quarter worth approximately $209,000. Diversify Wealth Management LLC acquired a new stake in shares of Quantum Computing during the fourth quarter worth approximately $331,000. Finally, Veracity Capital LLC purchased a new position in Quantum Computing during the fourth quarter valued at approximately $343,000. Institutional investors and hedge funds own 4.26% of the company's stock.

Quantum Computing Company Profile

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.