Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s share price traded up 19.7% during trading on Friday . The company traded as high as $18.60 and last traded at $18.12. 63,940,445 shares were traded during trading, an increase of 592% from the average session volume of 9,234,355 shares. The stock had previously closed at $15.14.
Analyst Upgrades and Downgrades
Separately, Ascendiant Capital Markets raised their target price on Quantum Computing from $8.25 to $8.50 and gave the company a "buy" rating in a research report on Wednesday, November 13th.
View Our Latest Analysis on QUBT
Quantum Computing Price Performance
The firm has a market cap of $2.10 billion, a PE ratio of -60.76 and a beta of 3.11. The stock's fifty day moving average price is $4.55 and its 200-day moving average price is $2.00.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its quarterly earnings data on Wednesday, October 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. The firm had revenue of $0.18 million during the quarter.
Hedge Funds Weigh In On Quantum Computing
Several large investors have recently modified their holdings of QUBT. Geode Capital Management LLC raised its holdings in Quantum Computing by 10.5% in 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 during the period. XTX Topco Ltd purchased a new position in Quantum Computing during the third quarter worth about $46,000. Finally, Virtu Financial LLC increased its position in shares of Quantum Computing by 377.7% during 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 during the last quarter. Institutional investors and hedge funds own 4.26% of the company's stock.
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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