Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) were down 1.7% during mid-day trading on Friday . The company traded as low as $7.84 and last traded at $7.95. Approximately 8,630,569 shares were traded during trading, a decline of 71% from the average daily volume of 29,460,414 shares. The stock had previously closed at $8.09.
Wall Street Analysts Forecast Growth
Separately, Ascendiant Capital Markets upped their price target on Quantum Computing from $8.25 to $8.50 and gave the stock a "buy" rating in a report on Wednesday, November 13th.
View Our Latest Report on QUBT
Quantum Computing Stock Performance
The firm's 50-day moving average is $11.88 and its 200 day moving average is $5.70. The firm has a market capitalization of $939.66 million, a PE ratio of -23.62 and a beta of 2.75.
Hedge Funds Weigh In On Quantum Computing
Hedge funds have recently bought and sold shares of the stock. Alyeska Investment Group L.P. purchased a new position in Quantum Computing in the 4th quarter valued at about $69,613,000. Anson Funds Management LP purchased a new position in shares of Quantum Computing during the fourth quarter valued at approximately $70,006,000. Vanguard Group Inc. boosted its position in Quantum Computing by 83.6% during the fourth quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company's stock worth $69,290,000 after acquiring an additional 1,906,749 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in Quantum Computing in the 4th quarter worth approximately $13,953,000. Finally, Geode Capital Management LLC increased its stake in Quantum Computing by 11.0% in the fourth quarter. Geode Capital Management LLC now owns 762,588 shares of the company's stock valued at $12,627,000 after purchasing an additional 75,380 shares during the last quarter. Hedge funds and other institutional investors 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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