Quantum Computing (NASDAQ:QUBT) Trading Down 9.5% - What's Next?

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares fell 9.5% on Thursday . The company traded as low as $10.38 and last traded at $10.45. 66,737,379 shares changed hands during mid-day trading, an increase of 38% from the average session volume of 48,238,301 shares. The stock had previously closed at $11.55.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets boosted their price objective on Quantum Computing from $8.25 to $8.50 and gave the stock a "buy" rating in a report on Wednesday, November 13th.

Quantum Computing Trading Down 5.8 %

The company's 50-day moving average is $10.06 and its 200 day moving average is $3.97. The firm has a market cap of $1.40 billion, a PE ratio of -37.52 and a beta of 2.83.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd purchased a new stake in Quantum Computing in the 3rd quarter worth about $46,000. Geode Capital Management LLC increased its holdings in shares of Quantum Computing by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company's stock valued at $449,000 after purchasing an additional 65,486 shares during the period. Virtu Financial LLC lifted its position in shares of Quantum Computing by 377.7% in the third quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock worth $40,000 after purchasing an additional 47,880 shares in the last quarter. Sovereign Financial Group Inc. acquired a new stake in shares of Quantum Computing during the fourth quarter worth approximately $209,000. Finally, Diversify Wealth Management LLC purchased a new position in Quantum Computing during the fourth quarter valued at approximately $331,000. Hedge funds and other institutional investors own 4.26% of the company's stock.

Quantum Computing Company Profile

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.