Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares rose 7.3% during trading on Thursday . The stock traded as high as $7.10 and last traded at $6.87. Approximately 8,781,394 shares were traded during mid-day trading, an increase of 38% from the average daily volume of 6,362,006 shares. The stock had previously closed at $6.40.
Analysts Set New Price Targets
Separately, Ascendiant Capital Markets lifted 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.
Get Our Latest Report on QUBT
Quantum Computing Trading Down 0.6 %
The firm's fifty day moving average price is $3.11 and its 200-day moving average price is $1.50. The company has a market cap of $650.11 million, a P/E ratio of -21.93 and a beta of 3.11.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its quarterly earnings data on Wednesday, October 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $0.18 million for the quarter.
Institutional Trading of Quantum Computing
Several institutional investors have recently made changes to their positions in the business. Virtu Financial LLC boosted its position 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 valued at $40,000 after acquiring an additional 47,880 shares in the last quarter. Geode Capital Management LLC boosted its position in Quantum Computing by 10.5% in the third 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. Finally, XTX Topco Ltd acquired a new position in Quantum Computing in the third quarter valued at about $46,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.
Quantum Computing Company Profile
(
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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