Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) traded up 5.6% on Thursday . The company traded as high as $18.87 and last traded at $18.05. 17,032,575 shares traded hands during trading, an increase of 73% from the average session volume of 9,829,607 shares. The stock had previously closed at $17.09.
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 company a "buy" rating in a research report on Wednesday, November 13th.
Read Our Latest Stock Report on Quantum Computing
Quantum Computing Stock Performance
The stock has a market cap of $2.29 billion, a P/E ratio of -66.34 and a beta of 3.07. The stock's fifty day simple moving average is $6.26 and its 200-day simple moving average is $2.59.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last released its earnings results on Wednesday, October 2nd. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. The firm had revenue of $0.18 million during the quarter.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC boosted its stake in shares of Quantum Computing by 377.7% during the third quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock valued at $40,000 after purchasing an additional 47,880 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Quantum Computing by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company's stock valued at $449,000 after acquiring an additional 65,486 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in Quantum Computing during the 3rd quarter worth approximately $46,000. Institutional investors own 4.26% of the company's stock.
Quantum Computing Company Profile
(
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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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