Quantum Computing (NASDAQ:QUBT) Shares Up 6.4% - Still a Buy?

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s stock price traded up 6.4% on Tuesday . The stock traded as high as $8.05 and last traded at $6.94. 20,423,091 shares were traded during mid-day trading, a decline of 43% from the average session volume of 35,584,023 shares. The stock had previously closed at $6.52.

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 research report on Wednesday, November 13th.

Quantum Computing Stock Performance

The company has a market capitalization of $1.40 billion, a P/E ratio of -37.52 and a beta of 2.83. The stock has a fifty day moving average of $9.86 and a 200 day moving average of $3.92.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC increased its holdings in Quantum Computing by 377.7% in the 3rd 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 purchased a new position in Quantum Computing during the third quarter valued at approximately $46,000. Sovereign Financial Group Inc. bought a new position in shares of Quantum Computing in the fourth quarter worth approximately $209,000. Diversify Wealth Management LLC purchased a new stake in shares of Quantum Computing in the fourth quarter worth $331,000. Finally, Geode Capital Management LLC lifted its stake 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 buying an additional 65,486 shares in the last quarter. 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.

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