Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s share price dropped 4.8% during trading on Monday . The stock traded as low as $9.37 and last traded at $9.88. Approximately 6,744,386 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 37,447,160 shares. The stock had previously closed at $10.38.
Analysts Set New Price Targets
Separately, Ascendiant Capital Markets boosted their target price on shares of Quantum Computing from $8.25 to $8.50 and gave the stock a "buy" rating in a research report on Wednesday, November 13th.
Read Our Latest Research Report on Quantum Computing
Quantum Computing Price Performance
The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -33.00 and a beta of 2.75. The firm has a fifty day moving average of $11.90 and a 200 day moving average of $4.98.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter. The company had revenue of $0.10 million for the quarter.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Geode Capital Management LLC increased 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 worth $449,000 after acquiring an additional 65,486 shares in the last quarter. UNICOM Systems Inc. purchased a new position in shares of Quantum Computing in the fourth quarter valued at approximately $5,707,000. Mission Wealth Management LP acquired a new stake in shares of Quantum Computing in the fourth quarter worth approximately $1,986,000. Raymond James Financial Inc. purchased a new stake in shares of Quantum Computing during the fourth quarter worth approximately $1,924,000. Finally, SBI Securities Co. Ltd. acquired a new position in Quantum Computing in the 4th quarter valued at $1,602,000. Institutional investors and hedge funds own 4.26% of the company's stock.
Quantum Computing Company Profile
(
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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