Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares traded up 44.1% during mid-day trading on Tuesday . The stock traded as high as $16.78 and last traded at $15.97. 91,794,618 shares were traded during mid-day trading, an increase of 1,181% from the average session volume of 7,164,195 shares. The stock had previously closed at $11.08.
Analyst Upgrades and Downgrades
Separately, Ascendiant Capital Markets boosted 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.
Read Our Latest Report on QUBT
Quantum Computing Stock Performance
The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -57.90 and a beta of 3.11. The business has a fifty day moving average price of $3.44 and a 200 day moving average price of $1.62.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its quarterly earnings results on Wednesday, October 2nd. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The firm had revenue of $0.18 million for the quarter.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake 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 valued at $449,000 after buying an additional 65,486 shares in the last quarter. XTX Topco Ltd acquired a new stake in Quantum Computing in the third quarter valued at approximately $46,000. Finally, Virtu Financial LLC grew its position in Quantum Computing by 377.7% in the third quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock valued at $40,000 after acquiring an additional 47,880 shares in the last quarter. 4.26% of the stock is owned by institutional investors and hedge funds.
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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