Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) traded up 36.3% during trading on Wednesday . The company traded as high as $11.58 and last traded at $10.13. 60,355,100 shares were traded during mid-day trading, an increase of 51% from the average session volume of 39,961,281 shares. The stock had previously closed at $7.43.
Analyst Upgrades and Downgrades
Separately, Ascendiant Capital Markets upped their price objective on shares of Quantum Computing from $8.25 to $8.50 and gave the stock a "buy" rating in a research report on Wednesday, November 13th.
Get Our Latest Stock Analysis on Quantum Computing
Quantum Computing Stock Up 55.5 %
The firm has a market capitalization of $1.49 billion, a P/E ratio of -39.83 and a beta of 2.83. The business's 50 day moving average is $9.66 and its 200-day moving average is $3.86.
Institutional Investors Weigh In On Quantum Computing
A number of large investors have recently modified their holdings of the business. Sovereign Financial Group Inc. bought a new stake in shares of Quantum Computing during the 4th quarter worth $209,000. Virtu Financial LLC raised its stake 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 acquiring an additional 47,880 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Quantum Computing in the third quarter worth about $46,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Quantum Computing by 10.5% in the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company's stock worth $449,000 after acquiring an additional 65,486 shares during the last quarter. Institutional investors and hedge funds own 4.26% of the company's stock.
Quantum Computing Company Profile
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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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