Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s share price traded up 10.1% on Friday . The stock traded as high as $12.47 and last traded at $12.24. 16,606,218 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 45,679,043 shares. The stock had previously closed at $11.12.
Analysts Set New Price Targets
Separately, Ascendiant Capital Markets lifted their target price on shares of Quantum Computing from $8.25 to $8.50 and gave the company a "buy" rating in a report on Wednesday, November 13th.
Read Our Latest Stock Report on QUBT
Quantum Computing Stock Performance
The firm has a market cap of $1.41 billion, a PE ratio of -37.69 and a beta of 2.83. The firm's 50-day moving average price is $11.05 and its two-hundred day moving average price is $4.45.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter. The firm had revenue of $0.10 million during the quarter.
Institutional Trading of Quantum Computing
Several institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC lifted its position 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 buying an additional 47,880 shares during the period. XTX Topco Ltd purchased a new position in shares of Quantum Computing in the third quarter valued at $46,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Quantum Computing during the fourth quarter valued at about $199,000. Sovereign Financial Group Inc. acquired a new position in shares of Quantum Computing in the 4th quarter valued at approximately $209,000. Finally, Diversify Wealth Management LLC purchased a new position in shares of Quantum Computing during the 4th quarter valued at approximately $331,000. Hedge funds and other 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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