Quantum Computing (NASDAQ:QUBT) Trading Down 9.7% - Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) dropped 9.7% during trading on Monday . The company traded as low as $9.46 and last traded at $9.83. Approximately 41,307,107 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 61,121,204 shares. The stock had previously closed at $10.88.

Analyst Upgrades and Downgrades

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

Quantum Computing Trading Down 9.7 %

The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -33.90 and a beta of 2.83. The firm's 50 day simple moving average is $10.39 and its 200-day simple moving average is $4.15.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of 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 worth $40,000 after purchasing an additional 47,880 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Quantum Computing in the third quarter valued at about $46,000. Geode Capital Management LLC boosted its holdings in Quantum Computing by 10.5% during the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company's stock worth $449,000 after buying an additional 65,486 shares in the last quarter. Sovereign Financial Group Inc. acquired a new position in Quantum Computing during the fourth quarter worth about $209,000. Finally, Janney Montgomery Scott LLC purchased a new position in Quantum Computing in the fourth quarter valued at about $786,000. Institutional investors and hedge funds own 4.26% of the company's stock.

About Quantum Computing

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.