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Quantum Computing (NASDAQ:QUBT) Stock Price Down 4.8% - What's Next?

Quantum Computing logo with Computer and Technology background

Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) dropped 4.8% during mid-day trading on Monday . The company traded as low as $9.37 and last traded at $9.88. Approximately 6,744,386 shares were traded during trading, a decline of 82% from the average daily volume of 37,447,160 shares. The stock had previously closed at $10.38.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets increased their price objective on Quantum Computing from $8.25 to $8.50 and gave the stock a "buy" rating in a research note on Wednesday, November 13th.

Check Out Our Latest Analysis on Quantum Computing

Quantum Computing Stock Performance

The firm has a 50 day simple moving average of $11.95 and a two-hundred day simple moving average of $5.07. The firm has a market capitalization of $1.27 billion, a P/E ratio of -32.00 and a beta of 2.75.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter. The business had revenue of $0.10 million for the quarter.

Hedge Funds Weigh In On Quantum Computing

Several institutional investors have recently added to or reduced their stakes in QUBT. IFP Advisors Inc purchased a new stake in shares of Quantum Computing during the 4th quarter worth approximately $33,000. Archer Investment Corp bought a new position in Quantum Computing during the fourth quarter valued at $33,000. SRH Advisors LLC purchased a new stake in Quantum Computing in the fourth quarter worth $69,000. Capital Advisors Inc. OK bought a new stake in shares of Quantum Computing in the fourth quarter valued at $166,000. Finally, Essex Financial Services Inc. purchased a new position in shares of Quantum Computing during the 4th quarter valued at $174,000. Institutional investors own 4.26% of the company's stock.

About Quantum Computing

(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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