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Quantum Computing (NASDAQ:QUBT) Shares Gap Up - What's Next?

Quantum Computing logo with Computer and Technology background

Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $6.71, but opened at $7.10. Quantum Computing shares last traded at $7.78, with a volume of 9,559,687 shares.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets increased their price objective 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.

Check Out Our Latest Stock Analysis on QUBT

Quantum Computing Trading Up 65.4 %

The stock has a market cap of $1.13 billion, a P/E ratio of -30.45 and a beta of 3.11. The company's 50-day simple moving average is $3.23 and its 200 day simple moving average is $1.55.

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 company had revenue of $0.18 million for the quarter.

Institutional Investors Weigh In On Quantum Computing

A number of institutional investors and hedge funds have recently bought and sold shares of QUBT. Geode Capital Management LLC raised its holdings in shares of 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 buying an additional 65,486 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Quantum Computing in the 3rd quarter valued at approximately $46,000. Finally, Virtu Financial LLC increased its stake in shares of 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. 4.26% of the stock is owned by hedge funds and other 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.

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