Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) were down 49.9% during trading on Wednesday . The stock traded as low as $8.75 and last traded at $8.77. Approximately 41,058,118 shares were traded during mid-day trading, an increase of 26% from the average daily volume of 32,686,193 shares. The stock had previously closed at $17.49.
Analyst Ratings Changes
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 note on Wednesday, November 13th.
Check Out Our Latest Report on QUBT
Quantum Computing Trading Down 43.3 %
The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -34.17 and a beta of 2.83. The company has a fifty day moving average price of $9.09 and a 200-day moving average price of $3.63.
Hedge Funds Weigh In On Quantum Computing
Several institutional investors have recently made changes to their positions in QUBT. Virtu Financial LLC grew 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 valued at $40,000 after buying an additional 47,880 shares during the period. XTX Topco Ltd purchased a new stake in shares of Quantum Computing during the 3rd quarter worth about $46,000. Finally, Geode Capital Management LLC grew its position 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 acquiring an additional 65,486 shares during the period. 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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