Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $25.68, but opened at $22.00. Quantum Computing shares last traded at $18.84, with a volume of 26,964,077 shares changing hands.
Analyst Ratings Changes
Separately, Ascendiant Capital Markets increased their target price on shares of 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 Report on QUBT
Quantum Computing Stock Performance
The firm has a market capitalization of $1.55 billion, a P/E ratio of -52.21 and a beta of 3.11. The stock has a 50 day moving average of $4.26 and a two-hundred day moving average of $1.91.
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 for the quarter, topping analysts' consensus estimates of ($0.08) by $0.02. The firm had revenue of $0.18 million during the quarter.
Institutional Investors Weigh In On Quantum Computing
Hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd bought a new stake in Quantum Computing during the 3rd quarter valued at approximately $46,000. Geode Capital Management LLC boosted its stake in Quantum Computing by 10.5% during the third 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 in the last quarter. Finally, Virtu Financial LLC lifted its holdings 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 acquiring an additional 47,880 shares during the period. 4.26% of the stock is owned by institutional investors and hedge funds.
Quantum Computing Company Profile
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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.
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