Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s stock price fell 4.2% during trading on Tuesday . The company traded as low as $8.30 and last traded at $8.35. 5,150,623 shares were traded during trading, a decline of 84% from the average session volume of 32,867,508 shares. The stock had previously closed at $8.71.
Wall Street Analyst Weigh In
Separately, Ascendiant Capital Markets increased their price target 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.
Check Out Our Latest Stock Report on Quantum Computing
Quantum Computing Stock Down 4.0 %
The company has a market capitalization of $1.09 billion, a PE ratio of -27.41 and a beta of 2.75. The company's 50 day moving average is $12.08 and its two-hundred day moving average is $5.30.
Hedge Funds Weigh In On Quantum Computing
Several institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC purchased a new position in shares of Quantum Computing in the 4th quarter worth $30,000. Archer Investment Corp purchased a new position in shares of Quantum Computing in the 4th quarter worth $33,000. IFP Advisors Inc purchased a new position in shares of Quantum Computing in the 4th quarter worth $33,000. Farther Finance Advisors LLC purchased a new position in shares of Quantum Computing in the 4th quarter worth $33,000. Finally, Virtu Financial LLC grew its stake 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 buying an additional 47,880 shares in the last quarter. 4.26% of the stock is owned by hedge funds and other institutional investors.
About Quantum Computing
(
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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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