Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $17.09, but opened at $16.72. Quantum Computing shares last traded at $18.38, with a volume of 8,607,917 shares trading hands.
Wall Street Analyst Weigh In
Separately, Ascendiant Capital Markets raised their target price on shares of Quantum Computing from $8.25 to $8.50 and gave the stock a "buy" rating in a report on Wednesday, November 13th.
View Our Latest Stock Report on QUBT
Quantum Computing Trading Up 12.6 %
The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of -66.34 and a beta of 3.07. The company has a fifty day moving average price of $6.26 and a 200-day moving average price of $2.59.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.02. The business had revenue of $0.18 million during the quarter.
Institutional Trading of Quantum Computing
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new position in Quantum Computing during the third quarter valued at about $46,000. Geode Capital Management LLC increased its position 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 purchasing an additional 65,486 shares during the period. Finally, Virtu Financial LLC lifted its position in Quantum Computing by 377.7% in the third quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock worth $40,000 after purchasing an additional 47,880 shares during the period. Institutional investors and hedge funds own 4.26% of the company's stock.
Quantum Computing Company Profile
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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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