Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares fell 3.2% during mid-day trading on Wednesday . The company traded as low as $5.02 and last traded at $5.09. 2,359,537 shares were traded during trading, a decline of 91% from the average session volume of 25,638,244 shares. The stock had previously closed at $5.26.
Wall Street Analysts Forecast Growth
Separately, Ascendiant Capital Markets raised their price target on shares of Quantum Computing from $8.25 to $8.50 and gave the stock a "buy" rating in a research note on Wednesday, November 13th.
View Our Latest Report on Quantum Computing
Quantum Computing Trading Down 10.8 %
The stock has a 50-day simple moving average of $9.81 and a two-hundred day simple moving average of $5.98. The firm has a market capitalization of $615.23 million, a P/E ratio of -15.57 and a beta of 3.26.
Institutional Trading of Quantum Computing
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. UNICOM Systems Inc. bought a new position in Quantum Computing in the fourth quarter worth about $5,707,000. SBI Securities Co. Ltd. purchased a new stake in shares of Quantum Computing during the 4th quarter valued at $1,602,000. SG Americas Securities LLC acquired a new stake in shares of Quantum Computing in the 4th quarter worth $626,000. Virtu Financial LLC grew its stake in Quantum Computing by 377.7% during the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock worth $40,000 after buying an additional 47,880 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in Quantum Computing during the 4th quarter valued at about $786,000. Institutional investors own 4.26% of the company's stock.
Quantum Computing Company Profile
(
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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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