Quantum Computing (NASDAQ:QUBT) Stock Price Down 20.3% - Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) traded down 20.3% on Monday . The company traded as low as $6.88 and last traded at $7.16. 16,510,350 shares traded hands during trading, a decline of 53% from the average session volume of 35,120,113 shares. The stock had previously closed at $8.98.

Analyst Upgrades and Downgrades

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

Quantum Computing Price Performance

The company has a market capitalization of $840.83 million, a PE ratio of -22.48 and a beta of 2.83. The business's 50 day simple moving average is $9.42 and its 200 day simple moving average is $3.77.

Institutional Trading of Quantum Computing

Institutional investors have recently made changes to their positions in the company. Virtu Financial LLC increased 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 during the last quarter. XTX Topco Ltd purchased a new position in shares of Quantum Computing during the 3rd quarter worth $46,000. Finally, Geode Capital Management LLC increased its position 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 worth $449,000 after purchasing an additional 65,486 shares during the last quarter. Hedge funds and other institutional investors 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.