Quantum Computing (NASDAQ:QUBT) Shares Gap Up - Time to Buy?

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $4.73, but opened at $5.01. Quantum Computing shares last traded at $4.96, with a volume of 2,347,581 shares changing hands.

Quantum Computing Stock Performance

The business has a 50-day simple moving average of $8.59 and a 200 day simple moving average of $6.15. The firm has a market cap of $972.58 million, a P/E ratio of -24.45 and a beta of 3.26.

Institutional Trading of Quantum Computing

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC purchased a new stake in shares of Quantum Computing in the 4th quarter worth about $30,000. Archer Investment Corp bought a new position in Quantum Computing in the fourth quarter worth about $33,000. IFP Advisors Inc purchased a new stake in Quantum Computing in the fourth quarter worth about $33,000. Farther Finance Advisors LLC bought a new stake in Quantum Computing during the 4th quarter valued at approximately $33,000. Finally, Virtu Financial LLC raised its position in shares of Quantum Computing by 377.7% in the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock worth $40,000 after acquiring an additional 47,880 shares in the last quarter. Hedge funds and other institutional investors own 4.26% of the company's stock.

About Quantum Computing

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.