Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shot up 6.4% during mid-day trading on Tuesday . The stock traded as high as $8.05 and last traded at $6.94. 20,423,091 shares traded hands during trading, a decline of 43% from the average session volume of 35,584,023 shares. The stock had previously closed at $6.52.
Wall Street Analyst Weigh In
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 Research Report on QUBT
Quantum Computing Stock Up 14.0 %
The firm has a market capitalization of $958.19 million, a P/E ratio of -25.62 and a beta of 2.83. The business's 50 day moving average is $9.53 and its two-hundred day moving average is $3.82.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd bought a new position in Quantum Computing during the 3rd quarter valued at $46,000. Geode Capital Management LLC boosted its stake in Quantum Computing by 10.5% during 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. Virtu Financial LLC grew its holdings 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 period. Finally, Sovereign Financial Group Inc. bought a new stake in Quantum Computing in the fourth quarter worth about $209,000. 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.
Further Reading
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