Quantum Computing (NASDAQ:QUBT) Shares Down 4% - What's Next?

Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) traded down 4% during trading on Monday . The company traded as low as $7.78 and last traded at $7.95. 12,497,404 shares were traded during mid-day trading, a decline of 62% from the average session volume of 32,462,944 shares. The stock had previously closed at $8.28.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets lifted 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.

Quantum Computing Price Performance

The business's 50 day moving average price is $12.15 and its 200 day moving average price is $5.50. The stock has a market capitalization of $1.11 billion, a P/E ratio of -27.90 and a beta of 2.75.

Institutional Trading of Quantum Computing

A number of large investors have recently made changes to their positions in QUBT. Alyeska Investment Group L.P. purchased a new stake in Quantum Computing during the fourth quarter valued at approximately $69,613,000. Anson Funds Management LP purchased a new stake in Quantum Computing during the fourth quarter valued at approximately $70,006,000. Vanguard Group Inc. increased its holdings in Quantum Computing by 83.6% during the fourth quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company's stock valued at $69,290,000 after buying an additional 1,906,749 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in Quantum Computing during the fourth quarter valued at approximately $13,953,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in Quantum Computing during the fourth quarter valued at approximately $11,750,000. 4.26% of the stock is currently owned by institutional investors.

Quantum Computing Company Profile

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.