Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s stock price fell 7.3% during trading on Monday . The company traded as low as $6.83 and last traded at $6.94. 4,861,139 shares changed hands during trading, a decline of 83% from the average session volume of 28,982,859 shares. The stock had previously closed at $7.49.
Wall Street Analysts Forecast Growth
Separately, Ascendiant Capital Markets boosted their price objective on shares of Quantum Computing from $8.25 to $8.50 and gave the stock a "buy" rating in a report on Wednesday, November 13th.
Check Out Our Latest Stock Analysis on Quantum Computing
Quantum Computing Stock Performance
The firm has a market cap of $898.50 million, a PE ratio of -22.57 and a beta of 2.75. The stock has a 50-day simple moving average of $11.50 and a two-hundred day simple moving average of $5.71.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QUBT. Heck Capital Advisors LLC purchased a new stake in Quantum Computing during the 4th quarter valued at $1,255,000. Two Sigma Investments LP bought a new stake in shares of Quantum Computing in the fourth quarter worth $657,000. Toronto Dominion Bank bought a new stake in shares of Quantum Computing in the fourth quarter worth $3,509,000. OMERS ADMINISTRATION Corp purchased a new stake in Quantum Computing during the fourth quarter valued at $319,000. Finally, Millennium Management LLC bought a new position in Quantum Computing in the fourth quarter valued at about $2,772,000. 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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