Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s share price dropped 4.2% during trading on Tuesday . The company traded as low as $8.30 and last traded at $8.35. Approximately 5,150,623 shares traded hands during trading, a decline of 84% from the average daily volume of 32,867,508 shares. The stock had previously closed at $8.71.
Analyst Ratings Changes
Separately, Ascendiant Capital Markets raised their target price on shares of Quantum Computing from $8.25 to $8.50 and gave the company a "buy" rating in a report on Wednesday, November 13th.
Check Out Our Latest Report on QUBT
Quantum Computing Stock Down 4.0 %
The stock has a market cap of $1.09 billion, a PE ratio of -27.41 and a beta of 2.75. The firm has a fifty day moving average of $12.08 and a 200 day moving average of $5.33.
Institutional Investors Weigh In On Quantum Computing
Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC purchased a new position in Quantum Computing in the fourth quarter valued at approximately $30,000. Archer Investment Corp acquired a new stake in shares of Quantum Computing during the fourth quarter worth about $33,000. IFP Advisors Inc acquired a new stake in shares of Quantum Computing in the 4th quarter valued at about $33,000. Farther Finance Advisors LLC purchased a new position in Quantum Computing during the 4th quarter worth approximately $33,000. Finally, Virtu Financial LLC increased its position in Quantum Computing by 377.7% during the third quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock worth $40,000 after buying an additional 47,880 shares during the period. Institutional investors and hedge funds own 4.26% of the company's stock.
About Quantum Computing
(
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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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