Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) traded up 4.3% during mid-day trading on Wednesday . The company traded as high as $8.27 and last traded at $8.21. 5,444,502 shares traded hands during trading, a decline of 83% from the average session volume of 32,173,365 shares. The stock had previously closed at $7.87.
Analysts Set New Price Targets
Separately, Ascendiant Capital Markets increased their price objective on shares of Quantum Computing from $8.25 to $8.50 and gave the stock a "buy" rating in a research report on Wednesday, November 13th.
Check Out Our Latest Report on QUBT
Quantum Computing Trading Down 4.0 %
The company has a market cap of $1.09 billion, a P/E ratio of -27.41 and a beta of 2.75. The stock's 50-day moving average price is $12.09 and its 200-day moving average price is $5.41.
Hedge Funds Weigh In On Quantum Computing
Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC bought a new position in Quantum Computing in the 4th quarter valued at about $30,000. Archer Investment Corp bought a new position in Quantum Computing in the 4th quarter valued at about $33,000. IFP Advisors Inc bought a new position in shares of Quantum Computing during the 4th quarter worth approximately $33,000. Farther Finance Advisors LLC bought a new position in shares of Quantum Computing during the 4th quarter worth approximately $33,000. Finally, Virtu Financial LLC lifted its position in shares of Quantum Computing by 377.7% during 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. 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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